Der CEO von FTX sieht das PoS-Konsensverfahren als große Schwäche von Bitcoin, woraufhin die Krypto-Community mit heftiger Kritik dagegenhält.
Luna Foundation Guard confirms it sold 80,081 bitcoins to try prevent the UST crash
Luna Foundation Guard, an organization that supports the Terra ecosystem, has confirmed through an announcement that they sold 80,081 bitcoin and other holding tokens to prevent the crash on May 8 and May 10.
The Luna Foundation Guard (LFG) had over 80K BTC and other cryptocurrencies before the de-pegging of the UST.
1/ As of Saturday, May 7, 2022, the Luna Foundation Guard held a reserve consisting of the following assets:
· 80,394 $BTC
· 39,914 $BNB
· 26,281,671 $USDT
· 23,555,590 $USDC
· 1,973,554 $AVAX
· 697,344 $UST
· 1,691,261 $LUNA— LFG | Luna Foundation Guard (@LFG_org) May 16, 2022
The organization sold Bitcoins for about 3 billion UST which currently wort nothing because Terra blockchain has been suspended.
Luna stated via Twitter:
“Beginning on May 8, when the price of UST began to drop substantially below one dollar, the Foundation began converting this reserve to UST. The Foundation did so by directly executing on-chain swaps and transferring BTC to a counterparty to enable them to enter trades with the Foundation in large size & on short notice. Directly sold 26,281,671 USDT & 23,555,590 USDC for an aggregate 50,200,071 UST· Transferred 52,189 BTC to trade with a counterparty, net of an excess of 5,313 BTC that they have returned, for an aggregate 1,515,689,462 UST. On May 10, when UST had fallen to $0.75… Sold 33,206 BTC for an aggregate 1,164,018,521 UST.”
However, Luna collapsed the day after as there were no other mechanisms or assets to stabilize the stablecoin UST.
On May 7, LFG held 80,394 Bitcoin, but when the price of $UST started to drop they started the conversion of the Bitcoin reserve to $UST. At the time of writing the reserve has been left with only 313 BTC.
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Krypto-Investmentfirma Grayscale expandiert mit neuem ETF nach Europa
Der neue Indexfonds von Grayscale, der auch Krypto-Unternehmen abbildet, wird ab morgen an den Börsen in Deutschland, England und Italien handelbar sein.
Großer Validator schlägt „völlig neue Chain“ anstelle von Terra vor
Der Betreiber eines großen Validatorknotens von Terra ist unzufrieden, wie sich die Situation um das Anhalten der Chain abgespielt hat und hofft, dass es eine völlig neue Chain anstelle der alten geben wird.
Binance to help Terra rebuild but expects more transparency, CEO ‘CZ’ says
Binance CEO Changpeng ‘CZ’ Zhao says the leading cryptocurrency is ready to support Terraform Labs and its community’s rise from the ‘ashes’. However, he expects the team behind the LUNA and UST tokens to offer more transparency and accountability.
LUNA and UST’s collapse this past week caused ripples and attracted a lot of attention from around the crypto community and elsewhere. Among these reactions have been “falsehoods circulating in crypto twitter,” regarding what happened.
1/8 These past weeks have proven to be a watershed moment for the crypto industry. We have witnessed the rapid decline of a major project, which sent ripples across the industry, but also a new found resiliency in the market that did not exist during the last market downswing.
— CZ 🔶 Binance (@cz_binance) May 15, 2022
Regarding Binance’s support for Terra, Zhao explained that his viewpoint is that “minting, forking, don’t create value.” According to him, mechanisms that allow for buying back,or burning work. However, this requires funds that Do Kwon and his Terraform Labs team may not have access to.
Binance will therefore work towards helping the team. But more needs to be done.
“In this regard, I would like to see more transparency from them. Much more! Including specific on-chain transactions (txids) of all the funds. Relying on 3rd party analysis is not sufficient or accurate. This is the first thing that should have happened,” he said.
Projects can and will fail, but…
Zhao acknowledges that failures can and will happen. Nonetheless, when such setbacks occur, it needs the team behind the project to be more transparent, act with speed and communicate. Owning up when failures happen is also vital, the Binance chief added in a Twitter thread on Sunday.
Zhao said Binance supported Terra’s first fundraising but not the second one. The leading exchange did not also acquire any TerraUSD.
“I am just hoping that the project teams can rise from the ashes and rebuild in a proper and sensible way. Regardless of my personal views, or the solution chosen in the end, we will always be here to support the community in any way we can”
Terra collapsed dramatically last week, with de-pegging of UST from the dollar sending both the stablecoin and LUNA to zero. Binance halted and then resumed spot trading for LUNA and UST.
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