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Singapore police say wanted cryptocurrency developer Do Kwon not living
The Singapore Police Force said on Saturday that the wanted developer Do Kwon, who is accused of fraud by investors following the collapse of his cryptocurrencies Luna and TerraUSD, is not currently in the city-state. The Singapore Police Force said on Saturday that the wanted developer Do Kwon , who is accused of fraud by investors following the collapse of his cryptocurrencies Luna and TerraUSD , is not ...
Updated: 09/21/2022
Celsius Network seeks to sell stable coin to fund bankruptcy
... it froze withdrawals, citing extreme market conditions. There are 11 different forms of stable coin that are owned by Celsius , for a total of $23 million. Major industry players have had a rough year due to the collapse of the popular terraUSD and luna token in May. U.S. digital lender Voyager Digital Ltd filed for bankruptcy in July.
Updated: 09/21/2022
House could ban stable coins similar to TerraUSD
... and relying solely on the value of another digital asset from the same creator to maintain their fixed price. TerraUSD, also known as UST, was designed to maintain a 1 to 1 peg to the US dollar through an algorithm and trading in a sister token called Luna. In May when UST crashed, the experiment failed spectacularly, leading to billions of dollars of losses and prompting policymakers to take renewed interest in stablecoins. The proposal would require a study on terra-like tokens from Treasury in ...
Updated: 09/20/2022
Celsius Network seeks to sell stable coin to fund bankruptcy
... bankruptcy in New York after it froze withdrawals, citing extreme market conditions. The stable coin is owned by Celsius for a total of $23 million. Major industry players have suffered a rough year due to the collapse of the popular terraUSD and luna token in May. In July, Voyager Digital Ltd , U.S. criptocurrency lender, filed for bankruptcy.
Updated: 09/19/2022
Terra founder Do Kwon denies going to South Korea
The founder of the collapsed Terra USD and TerraUSD, Do Kwon, denied on Sunday that he was on the run after the Singapore police said he was no longer in the country. The founder of the collapsed Terra LUNA USD and TerraUSD, Do Kwon , denied on Sunday that he was on the run after the Singapore police said he was no longer in the country. South Korea issued an arrest warrant for Kwon and five others last week after the collapse of his platform Terraform ...
Updated: 09/19/2022
Singapore police say wanted cryptocurrency developer Do Kwon not living
The Singapore Police Force said on Saturday that the wanted developer Do Kwon, who is accused of fraud by investors after the collapse of his cryptocurrencies Luna and TerraUSD, is not currently in the city-state. The Singapore Police Force said on Saturday that the wanted developer Do Kwon , who is accused of fraud by investors after the collapse of his cryptocurrencies Luna and TerraUSD , is not currently ...
Updated: 09/19/2022
Crypto founder Do Kwon on the run, investigators say
... was issued in the first place, the prosecutors office said in a text message. It declined to say whether the office knew of Kwon's whereabouts or plans to contact Interpol . The implosion of the TerraUSD algorithmic stable coin and its sister token Luna caused huge losses in the criptocurrency markets, which were already reeling from tighter monetary policy. Digital assets are yet to recover and regulators are pouring over the wreckage to see how to avoid a repeat. There is growing disdain in South ...
Updated: 09/19/2022
Terra founder not on the run, says he's not in Singapore
... permit was due to expire on 7 December, but his application for a renewal could be at risk now. South Korean prosecutors have also issued arrest warrants for five other people - who were not named - linked to stable coin TerraUSD and its sister token Luna. Kwon 's Terra Luna system disbanded in May, with the price of both tokens plummeted to near zero, and the fallout hitting the wider market for cryptocurrencies. Its collapse caused more than $500 billion in losses. Stable coin is designed to have ...
Updated: 09/18/2022
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