Tag Archives: Terra

Russia was invading, so a Ukrainian converted his life savings of $10,500 into the crypto token terra. Then the token crashed.

Russia was invading, so a Ukrainian converted his life savings of $10,500 into the crypto token terra. Then the token crashed.

A Kyiv, Ukraine, resident said he converted his $10,500 in life savings into a crypto token called terra but lost most of it after terra crashed.STR/NurPhoto via Getty Images A Kyiv resident wanted to protect his savings to avoid risks from Russia’s war, per The Guardian. He put the $10,500 sum into terra, a “stable” crypto token that later crashed in value. The Ukrainian’s account is one of many stories of retail investors being burned by the crypto crash. Yuri Popovich thought it seemed like a… Source link

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Terra collapse could ‘accelerate’ crypto regulation by legislators: Circle CEO

Terra collapse could ‘accelerate’ crypto regulation by legislators: Circle CEO

TerraUSD (UST-USD), which was the third-largest stablecoin in the cryptocurrency market just a couple weeks ago, has since unpegged from the U.S. dollar and collapsed along with its reserve asset Luna (LUNA1-USD). According to Circle CEO Jeremy Allaire, such a crypto collapse could spur legislators to take quicker action towards regulating the digital asset space. “When you have a major blowup, it’s certainly going to accelerate the need for Congress to act and establish some perimeters… Source link

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