$84,022.00
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2.53%$0.153317
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-1.69%$9.37
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0.01%$2.87
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0.16%$0.993576
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0.03%$1,582.24
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2.71%$27.74
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-2.91%$84,088.00
-1.61%$52.25
-0.25%$5.17
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-1.42%$22.25
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0.39%$0.821211
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0.02%$1.00
0.00%$2.02
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0.29%$4.74
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0.01%$135.48
-3.04%$229.94
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1.44%$4.02
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0.95%$2.41
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0.98%$0.279518
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1.10%$63.67
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0.06%$0.99554
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2.90%$578.10
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3.48%$14.11
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2.69%$0.780956
15.34%$7.68
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1.14%$0.99942
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16.84%$27.81
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2.43%$1.82
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1.07%$0.00005336
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0.14%$0.394822
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0.72%$1.67
3.92%$0.422061
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6.42%$84,050.00
-1.53%$0.00000043
1.25%$0.551166
-1.18%$0.454485
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-7.23%$1.001
0.10%$1.08
0.00%$110.70
0.01%$3.69
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-2.91%$0.152815
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3.14%$1,684.72
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0.02%$83,880.00
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-9.55%$0.999739
0.03%$1,577.06
-3.17%$0.12298
2.21%$0.546325
-8.71%$39.35
-2.83%$1,583.97
-2.89%$1.002
0.31%$0.999637
0.06%$2.17
-3.08%$1,582.54
-2.75%$0.03577858
-2.41%$1,584.54
-2.86%$0.065681
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7.33%$1.001
0.07%$0.03323392
-10.54%$5.03
-3.09%$0.01708294
1.97%$0.409517
-1.86%$1.001
0.04%$1.00
0.02%$0.999591
-0.04%$0.157137
1.13%$0.180283
-2.30%$0.00005728
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2.19%$0.738941
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-1.73%$0.0056334
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0.01%$3.63
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-3.51%$108.11
-2.36%$0.135108
-3.57%$0.293536
-3.89%$0.00439289
-8.64%$0.00000135
-4.52%$3,229.77
0.27%$84,035.00
-1.70%$2.42
-7.14%$83,955.00
-1.58%$1.041
-4.74%$2.74
-0.97%$1,561.28
-3.20%$3.86
24.48%$0.24921
-3.99%$0.201566
-4.12%$0.547147
-5.03%$0.999834
-0.04%$20.13
-2.47%$21.53
-2.12%$0.240509
-2.84%$0.520235
-4.28%$0.507363
17.40%$1,584.08
-2.80%$0.00038484
7.77%$1,674.48
-2.74%$0.00261122
-11.67%$0.408381
-4.71%$0.165974
-3.72%$0.459458
-2.80%$1,688.67
-1.60%$0.02691969
-3.77%$18.94
-4.60%$0.226363
-8.01%$0.998577
-0.03%$0.03236633
-0.65%$0.095957
-1.57%$0.01097218
-0.87%$0.630483
-4.05%$1,739.58
-2.66%$1.14
0.38%$83,752.00
-2.01%$0.99996
0.02%$2.66
-0.81%$1,719.87
-2.95%$12.65
-3.89%$1.95
0.11%Reading
Do Kwon is known for an aggressive social media strategy, but the Terra co-creator has been uncharacteristically silent for the past few days as the network careened into catastrophe.
Today, hours after Kwon proposed a "Terra ecosystem revival plan" to the network's research forum, he returned to Twitter for the first time in two days to express sadness for how things have played out.
"I am heartbroken about the pain my invention has brought on all of you," he tweeted, stating that he's spent much of his time on the phone with those who "have been devastated by UST depegging."
UST, an undercollateralized stablecoin that was designed to maintain parity with the U.S. dollar via a burn mechanism with Terra's LUNA governance token, slipped from its peg over the weekend.
Crypto bloodbath! How low will the major coins go, and what about Terra and stablecoins? Decrypt’s Dan Roberts, Jeff Benson, Stacy Elliott and Jason Nelson will discuss the news and parse through what’s happened and what might happen next.
Although Terra mobilized a $1.5 billion loan from its reserve fund as the entire cryptocurrency market began to crash, it wasn't enough to keep UST at $1.00. The price continued to fall, taking LUNA with it. The stablecoin is now trading below $0.20 and LUNA is worth fractions of a cent. The Terra blockchain, meanwhile, is paused as the community determines how to move forward.
Kwon took today's Twitter thread as an opportunity to re-up his proposal, which involves rebuilding the Terra blockchain without UST stablecoin and redistributing LUNA tokens.
After a short absence from Twitter and social media, Terra co-creator Do Kwon emerged on Friday to propose an "ecosystem revival plan" for the network. In it, he suggests that UST is not coming back—and the Terra blockchain must redistribute tokens to move forward. "The holders of Luna have so severely been liquidated and diluted that we will lack the ecosystem to build back up from the ashes," writes Kwon on the Terra research forum. "While a decentralized economy does need decentralized money,...
A lot of people lost money on Terra's downfall, and while Kwon doesn't details his own losses, he did assert, "Neither I nor any institutions that I am affiliated with profited in any way from this incident. I sold no luna nor ust during the crisis."
Kwon's contrition is in stark contrast to the tone he took in the days and weeks leading up to the crisis. In one widely shared example from May 9, Kwon wrote, "Anon, you could listen to CT influensooors about UST depegging for the 69th time. Or you could remember they’re all now poor, and go for a run instead."
Oklahoma’s attempt to become one of the first U.S. states to implement a Bitcoin reserve has come to an abrupt end. In a tight 6-5 vote on Monday, the Senate Revenue and Taxation Committee struck down House Bill 1203, also called the Strategic Bitcoin Reserve Act, despite late momentum and a surprise vote reversal from Sen. Christi Gillespie. Gillespie, who had planned to vote no “up until this afternoon,” changed her mind after “a couple of constituents” reached out. "A lawmaker changed their ‘...
Bitcoin miners continue to feel the crunch, with firms in the space selling more coins than usual to make ends meet. Data firm CryptoQuant said in a Tuesday report that miners last week stepped up their selling as the price of the biggest cryptocurrency dropped below $80,000. The firm said that on April 7, miners sold a total of 15,000 BTC—the third-largest daily outflow this year. That's at least $1.12 billion worth, based on the day's low price of less than $75,000. Increased market volatil...
A rallying yen and the highest Japanese bond yields in 30 years are sending warning signals across global markets, and Bitcoin may not be spared. This week, Japan’s 30-year bond yield jumped to 2.345%, its highest level since 1994, while the yen rallied to around 153 against the U.S. dollar. Goldman Sachs analysts led by former Bank of Japan (BOJ) chief economist Akira Otani believe that the bank may be nearing a policy pivot amid the yen’s rally. If the yen strengthens further toward 130/USD, t...
