Self-proclaimed internet sleuth Cofeezilla has said that Justin Sun’s new algorithmic stablecoin, USDD, is paving the way to becoming the next LUNA/UST. In a Twitter thread and YouTube video, he said that the USDD stablecoin, which currently has a market cap of $723 million, is far from the decentralized, algorithmic stablecoin it claims to be. …
key takeaways A new report has suggested that the wallet believed to be the main culprit in the May Terra crash could belong to Terraform Labs or the Luna Foundation Guard. The report links the wallet to various Binance accounts and wallets allegedly belonging to Luna Foundation Guard and LUNC DAO, a Terra 2.0 validator …
The following is an excerpt from CryptoCodex’s daily e-newsletter. Register now for free here Extreme market conditions 📉 The price of bitcoin has plummeted, dragging down ethereum and other major cryptocurrencies. CryptoCodex The combined cryptocurrency market has fallen below $1 trillion for the first time since early 2021 with fears about inflation, the broader economy …
key takeaways The SEC is reportedly investigating Terraform Labs for suspected violations of investor protection laws. Specifically, the agency is interested in how the firm marketed its now wrinkled UST stablecoin to US clients. The news comes a day after the US Court of Appeals ordered Kwon and his company to comply with investigative subpoenas …