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Tag: Terraform Labs

Do Kwon To Throw A Conference Soon To Debunk The Falsehood Against Him, He Invites Cops Around The World To Attend
Blockchain

Do Kwon To Throw A Conference Soon To Debunk The Falsehood Against Him, He Invites Cops Around The World To Attend

A recent tweet revealed that the Terraform Labs, Do Kwon, would be holding a conference to refute the stories making the rounds, looking forward to inviting the police. Do Kwon To Debunk Falsehood Via Conference A tweet was shared recently featuring Do Kwon responding to the  latest reports making the rounds online, saying he would be holding a conference to debunk the “falsehoods.” https://twitter.com/stablekwon/status/1588298460595249153 CEO Kwon welcome with open hands those sharing the stories, saying; “Show up if you dare,”. According to the report from the Korean Broadcasting System (KBS) which was made recently, alleging that the South Korean prosecutors had got proof that Do Kwon manipulated the price of Terra Luna Classic (LUNC) and is hiding in Europe also noted th...
Terraform Labs Introduces Terra Expedition To Strengthen And Expand Terra Ecosystem
Blockchain

Terraform Labs Introduces Terra Expedition To Strengthen And Expand Terra Ecosystem

It seems that Terraform Labs is interested in the ongoing revitalization project of the LUNC token, the team recently launched a proposal named Terra Expedition an ecosystem expansion program, which was created in a bid to strengthen and expand the Terra ecosystem through several initiatives.  Terraform Labs Launches Terra Expedition This new development was unveiled on the Terra Agora. It is worth noting that this program is expected to run for four years, and will focus on incentivizing developers to build decentralized applications (dApps) on the Terra Classic network, deepening liquidity, and onboarding new users to the Terra ecosystem.  Read Also: The First Stage Of EVM-Compatible XRP Ledger Goes Live According to the team; “The Terra Expedition is a revised iteratio...
Lawsuit Against Terraform Labs Increases As Plaintiff Albright Charges On Behalf May Terra Collapse’s Victims
Blockchain

Lawsuit Against Terraform Labs Increases As Plaintiff Albright Charges On Behalf May Terra Collapse’s Victims

The lawsuit against Terraform Labs has not declined but rather is on the increase daily. According to a report by the legal news outlet Law360, Terraform and two of its executives which include the Terraform Labs CEO, Do Kwon, were accused of violating the Racketeer Influence and Corrupt Organization Act. The charge against them was as a result of the UST inflation and promotion of false information in the recent Terra collapse, which claimed multi-million dollars, almost $80 million. Read Also: A Mysterious Wallet Initiates A Burn Of Over 309 Million In Two Days As stated by the Law360:“Defendants touted the stability of the coins and guaranteed 20% annual returns on coins deposited in Terraform Labs’ high-yield savings application on the Terra blockchain — the Anchor Protocol,”...
Do Kwon Says, Terra Was Created To Be an Industry’s Standard, Built As A Stablecoin And Not To Scam People
Blockchain

Do Kwon Says, Terra Was Created To Be an Industry’s Standard, Built As A Stablecoin And Not To Scam People

The CEO and founder of Terraform Labs, Do Kwon has now admitted to his shortcomings in a recent sole interview.  Do Kwon’s personality was seriously put under pressure owing to the May Terra collapse and the algorithm stablecoin TerraUSD (UST). According to Kwon’s video interview with Coinage Media, hosted by Zach Guzman dubbed “inside Crypto’s Largest Collapse”. The short video interview was aired to prepare the people that have longed to see Do Kwon talking about the Terra collapse. https://twitter.com/zGuz/status/1558851374619803649 Do Kwon said that the Terra was not created to scam people but to be a stablecoin, although it failed to be stabled.  “…It was supposed to be a stablecoin but didn’t remain stable. It was started to become industry’s standard, I b...
Do Kwon Suggests Decentralized Money For The Crypto Space And The Crypto Community Attacked Him Instantly
Blockchain

Do Kwon Suggests Decentralized Money For The Crypto Space And The Crypto Community Attacked Him Instantly

Unfortunately, the Terraform labs CE, Do Kwon’s belief in the crypto did not sound well into the earing of the Twitter community. Do Kwon stated: “Decentralized networks need decentralized money – obvious today more than ever,” Following his tweet, the crypto community did not waste time responding to his unpalatable belief, he turned off the comment session, but the member made use of the quote tweet to express their feelings. https://twitter.com/Mounia_NL/status/1556860848676769793 The whole scenario burned down to Do Kwon’s attempt at decentralized money which went bad for many and they were convinced that he has defrauded them. The UST which ought to fill the decentralized money gap being supported by Bitcoin reserves caused LUNA and UST holdings held by investors to bec...
3AC Founders Surface After Five Weeks Of Hiding Revealing The Reasons For The Collapse Of 3AC
Cryptocurrency

3AC Founders Surface After Five Weeks Of Hiding Revealing The Reasons For The Collapse Of 3AC

The co-founders of the Three Arrows Capital, Su Zhu and Kyle Davies, surface again after five weeks of hiding. They made it known in the interview with Bloomberg that the reason for hiding was nothing but the threats from various corners succeeded the challenge their firm experienced in early July which later bankrupted the creditors and destroy the selloff that foisted steep losses on mom-and-pop owners of Bitcoin and other tokens. The two founders were talking in an unknown location, analyzing the failure they got and they could trace it to their overconfident. As stated by the advisers in charge of liquidating reported on July 8th how the two founders hadn’t been communicating with them while their location was unknown. They claimed they're not talking to the advisors does not im...
Do Kwon Answers Users On LUNC Network Upgrade.
Blockchain

Do Kwon Answers Users On LUNC Network Upgrade.

Following the curiosity of one Twitter handler, THORchain.BULL who wanted to why a governance vote earlier passed to have the LUNC delegation re-enabled is never executed and more also the users that the LUNC governance never resumed implies that the Terraform Labs has control over it, Do Kwon reply as usual that the Terraform Labs has no control over LUNC and that whoever surfaced with the offer to start delegation should coordinate validators to mechanize the pathway to upgrade the network. Read Also: Shiba Inu is Now Accepted As Payment In Dripto, A Digital Marketplace https://twitter.com/stablekwon/status/1545600281534050305 According to the THORchain.BULL, he didn’t mean any negative but he was out of curiosity to bring it to the attention of other users. he added that if ...
Terra USTC Returns To The Top 100 Crypto As It Spikes Almost 400% In The Last 24 Hours
Cryptocurrency

Terra USTC Returns To The Top 100 Crypto As It Spikes Almost 400% In The Last 24 Hours

Terra’s collapsed stablecoin USTC prices experience a sudden spike of almost 400% over the last 24 hours. And this resulted in the token entering the top 100 cryptocurrencies. Amid the volatility in the crypto firm related to Terra’s newly released token LUNA 2.0, TerraClassicUSD has striven to spike more than 400% over the past 7 days. It is trading at an average price of around $0.042, at the press time. USTC’s 24-hour trading volume has increased by 413% to stand at $83 million. Read Also: Shiba Inu Spiked 50% In Seven Days, Its Addresses Approach 1.2 Million USTC’s total market Cap added almost $200 million in the last 24 hours as gotten from the data from the Coin MarketCap. Presently, it calms around $402 million. The meant-to-be stablecoin has now grabbed the 84th spot amo...
Terraform Labs CEO, Do Kwon said he has “great confidence” in the company’s ability to “build back even stronger” than before.
Blockchain

Terraform Labs CEO, Do Kwon said he has “great confidence” in the company’s ability to “build back even stronger” than before.

According to the  Wall Street Journal, Terraform Labs CEO, Do Kwon said in an interview published on Wednesday, that he has “great confidence” in the company’s ability to “build back even stronger" than before. Kwon displayed a level of confidence in rebuilding the Terra blockchain following the collapse of its predecessor in May. The proposal to relaunch the Terra blockchain and fabricate a new token was initiated in May which was succeeded by majority votes among the holders of Terraform Labs’ Luna governance token. Read Also: Tether To Release A Stablecoin Pegged To The British Pound In Early July. The votes than were in favor of the creation of a new blockchain called Terra while by the side, the old version was renamed Terra Classic.  “Many builders are in the pro...
Do Kwon, Terraform Labs CEO Encourages The Crypto Investors “Be The Change You Want To See”
Cryptocurrency

Do Kwon, Terraform Labs CEO Encourages The Crypto Investors “Be The Change You Want To See”

“Be the change you want to see” is a statement of the CEO of Terraform Labs to the crypto investors. He dwelled much on the fact that there are lessons to note from the occurrence that left some negative impacts on the crypto industry in recent months. The Why for the statement “Be the change you want to see” In the words of Kwon to the crypto investors which was recently shared in the series of tweets a few hours ago, following the recent collapse of the Terra ecosystem and the creation of the new blockchain as a repair mechanism for the collapsed one. Read Also: Elon Musk To Reimburse Investors Sum Of $86 Billion, Plus Pay Double That In Damages — An Additional $172 Billion. https://twitter.com/stablekwon/status/1538066680747728897  He said rather than causing a se...