Terra: Fresh facts emerge on LUNA collapse in newly released audit report TerraLUNA TerraUSD UST
, the entity behind the collapsed Terra ecosystem, has shared a technical audit report. This, it claims, provides full transparency into trading, blockchain records and efforts to defend the price of TerraUSD between May 8 and May 12 of this year.
1/ Today, LFG releases the technical audit report conducted by JS Held, an experienced third-party auditing firm, providing full transparency into the trading, blockchain records, and efforts of LFG and TFL to defend the price of TerraUSD between May 8th & May 12th, 2022.In May, TerraUSD lost its peg to the dollar. In an effort to regain the peg, more LUNA tokens were produced, resulting in a market glut and a decrease in the value of each LUNA token in use.
During the crash, many investors witnessed a sharp decline in the value of their holdings in LUNA and UST. The LUNA collapse was estimated to cost more than $60 billion in losses. And while Luna's collapse was unprecedented, the FTX fallout sent shockwaves across the industry.Comparisons to some of the most infamous financial scandals in recent decades have been made in response to the collapse of cryptocurrency exchange FTX amid reports that at least $1 billion in client funds vanished, potentially impacting more than a million customers.In a blog post, LFG said it spent nearly $2.
Do Kwon, the founder of collapsed stablecoin project Terra, is the subject of an Interpol red notice. He has refused to share his location, but prosecutors have indicated that he may be in Europe. He has denied any wrongdoing in the past and tweeted that he is not"on the run."
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Luna Foundation Guard Spent $2.8B Defending UST Peg, Third-Party Audit FindsA third-party audit by consultancy firm JS Held suggests that LFG_org spent $2.8 billion defending the UST peg in May. Reporting by oknightcrypto.
Read more »
South Korean Prosecutors Raid Terra Co-Founder's Company in UST ProbeSouth Korean prosecutors investigating the collapse of UST raided the headquarters of Chai Corp., whose CEO Daniel Shin was a co-founder of terra_money. camomileshumba reports
Read more »
Newly listed homes for sale in the Dothan areaBrowse through recently listed homes in the Dothan real estate market and find your next home!
Read more »
Chinese astronauts enter newly arrived cargo spacecraft at Tiangong space stationThe Tianzhou 5 freighter delivered about 11,000 pounds of supplies to Tiangong over the weekend.
Read more »
See who’s running for the newly-created police District Councils in Chicago’s 2023 election • The TRiiBE✊In the 2023 municipal elections, three candidates will be elected to councils in each of the city’s 22 police districts. Here's everything you need to know about who's running. | katie_prout | debbiemarieb_ | jimdaleywrites👇
Read more »