Several employees of South Korea-based Terraform labs, the company behind the stablecoin TerraUSD, which collapsed last month and roiled cryptocurrency markets, cannot leave the country, prosecutors said. TerraUSD’s paired token, Luna, plunged in value last month, sparking a sell off and igniting a chain reaction that has pushed some major institutions in the crypto sector into severe difficulties. An official …
Several employees of South Korea-based Terraform Labs, the company behind the stablecoin TerraUSD, which collapsed last month and roiled cryptocurrency markets, cannot leave the country, prosecutors said. TerraUSD’s paired token, LUNA, plunged in value last month, sparking a sell off and igniting a chain reaction that has pushed some major institutions in the crypto sector into severe difficulties. An official …
Stablecoins are rapidly gaining ground. Vetle Lunde, analyst at Norway-based crypto research firm Arcane Research who tracks the Terra project purchases, estimates that, to reach $10 billion in reserves, the platform could eventually hold between 60,000 to 70,000 bitcoin. A stablecoin backed by bitcoin reserves, according to Terraform co-founder Do Kwon “will open a new monetary era of the Bitcoin …
