Terraform Labs made the acquisition via its non-profit business Luna Foundation Group. TerraUSD is the fourth biggest stablecoin in market value. Terra’s choice of BTC for its stablecoin confirms the concept that Bitcoin is a contemporary, digital, and decentralized gold standard, and Terra has vowed to safeguard $10 billion in
Bitcoin and the rest of the crypto market had a great start to the week as long-term investors continued to build their positions. On the other hand, Terra is continuing to build up its Bitcoin holdings as part of its plan to support the UST stablecoin. The Terra Foundation has
The price of Bitcoin is projected to rise dramatically due to Terra’s plan. The business intends to surpass Satoshi Nakamoto’s holdings in bitcoins at some point. More than $139 million worth of Bitcoins has apparently been purchased by Terra lately. Terraform Labs Co-Founder, and CEO Do Kwon recently made public
As of January 21, there have been no sales of any Bitcoin from the wallet. Terra’s purchases seem to support the Bitcoin market. After a massive BTC buy, almost $1.5 billion in Bitcoin (BTC) has now been gathered in the Terra wallet. On Wednesday, Terra’s wallet address got an additional
The burn will enable the LFG to mint around 372 million in UST. Earlier in February 2022, the LFG raised $1 billion. The Luna Foundation Guard, situated in Singapore, continues to carry out its mission of assisting in developing the Terra blockchain ecosystem. The non-profit organization has now voted in
The UST earned from the burn will go into the community pool. The coin’s scarcity may drive up the price of LUNA. Terra, a smart contract-enabled algorithmic stablecoin venture, approved two requests to burn $4.5 billion of its native token, LUNA, in community pools. Furthermore, the burn will occur every
Hong Kong is in the enhanced crypto regulatory frame, embracing cryptocurrency and blockchain technology, and recent policy briefs from the Securities and Futures Commission (SFC) and Hong Kong Monetary Authority (HKMA) show their clear and legible regulatory policies. Moreover, Hong Kong launched its first spot Bitcoin and Ether ETFs in
A major legal victory has been achieved by the spouse of Do Kwon, founder of Terraform Labs, against the government of South Korea. She was permitted to keep her substantial real estate assets. That had been frozen as part of the inquiry into the Terra-Luna collapse after a Seoul court
In order to deplete the supply, the Terra Luna Classic community proposes to burn 12 billion LUNC and 68 million USTC in contracts. Which include the Lido DAO rewards dispatcher. As part of the effort to revive and repeg to $1. The community has begun withdrawing LUNC and USTC from
MetaMask platform’s developer, ConsenSys Software Inc., has been unexpectedly hit with a lawsuit by the United States Securities and Exchange Commission (SEC). Just days after ConsenSys CEO Joseph Lubin voiced hope for better ties between authorities and the cryptocurrency sector, the company is facing legal action. Lubin expressed optimism because
