dokwon
Do Kwon and Terraform have been charged by US authorities. The failed cryptocurrency and its creato have been indicted on counts by the US Securities and Exchange Commission related to "orchestrating a multi-billion dollar crypto asset securities fraud" after the Singapore-based fund, which created Terra Luna and TerraUSD, failed in 2022; a collapse that is believed to have cost investors more than $40 billion. Gary Gensler, the chair of the SEC said: "We allege that Terraform and Do Kwon failed to provide the public with full, fair, and truthful disclosure as required for a host of crypto ass...
BANG Showbiz English
By Mohammed Kudrati In 2021, cryptocurrency millionaires were on the covers of magazines for all the right reasons. In 2022, they're on the cover of magazines for all the wrong reasons, joining those who realise that magazine covers are slippery slopes to doom. The state of the global crypto ecosystem in 2022 has juxtapositioned itself with its state in 2021 all too perfectly. Last year, it was thriving, as around 13 months ago, most cryptocurrencies saw their lifetime highs. Today, the prices of most benchmark cryptocurrencies are trading at prices around a third of that. These lower prices o...
BOOM Live
Lehman Brothers’ collapse was the largest corporate bankruptcy in US history, having accrued $619 billion in debt. So large were Lehmnan’s liabilities that it presaged the Great Recession of 2008 – 2009, making it necessary for the Federal Reserve to step in. On the same level of fallout is Terra’s collapse for the crypto space. On the heels of Ethereum, at a $41 billion market cap in April, Terra (LUNA) was supposed to usher Finance 2.0 by providing a blockchain counterpart to the VISA payment system. Additionally, one of its main dApps, Anchor Protocol, enticed users with up to 19.5% yields ...
ValueWalk
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