The Terra community has approved founder Do Kwon’s plan to create a new blockchain for the luna token. The hard fork will move luna from a “classic” blockchain to a new Terra chain, but won’t revive stablecoin terraUSD. Terra’s algorithmic stablecoin lost its dollar peg, which spurred a sell-off across...
Developers behind failed stablecoin TerraUSD have voted to abandon the token in favor of creating a new blockchain and digital asset weeks after the cryptocurrency collapsed. Under the recovery plan for the Terra ecosystem, developers will create a new Terra blockchain with a revived Luna token. Unlike most other major...
A founder of the troubled Terra ecosystem has gotten a proposal approved to salvage the project in the wake of the collapse of the UST stablecoin weeks ago, Bloomberg reported Wednesday (May 26). Do Kwon, the founder, has proposed a new structure in which the original blockchain will be called...
Gabby Jones | Bloomberg | Getty Images Backers of Terra have approved a plan to revive the failed cryptocurrency venture — without the controversial stablecoin that helped trigger its stunning demise two weeks ago. “With overwhelming support, the Terra ecosystem has voted to pass Proposal 1623, calling for the genesis...
New on-chain data shows some of the world’s largest Ethereum (ETH) holders are reducing their exposure to the volatile crypto markets as the weekend arrives. According to WhaleStats, the top 100 Ethereum wallets are witnessing significant outflows of ETH in the last 24-hours. At time of publishing, those wallets have...
New York City Mayor Eric Adams has hit out at his states’ BitLicensing regime, claiming that it stifles innovation and economic growth. In a closing keynote interview at the Crypto and Digital Assets Summit in London on April 27, Adams suggested his state legislature counterparts in Albany “listen to those...
