Cryptocurrency
Cryptocurrency
Out of context: Reply #578
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- grafician1
"A South Korean court has issued an arrest warrant for Do Kwon, the primary developer of cryptocurrencies Luna and TerraUSD, whose spectacular collapse in May roiled crypto markets around the world."
"TerraUSD, a so-called stablecoin that was once among the top 10 cryptocurrencies globally by market value, broke its 1:1 peg to the US dollar in May, plunging in value and sending paired token Luna plummetting with it.
According to blockchain analytics firm Elliptic, investors in the two coins lost an estimated $42 billion.
The market turmoil that ensued led to the failure of several major crypto companies including US crypto lender Celsius and Singapore-based crypto fund manager Three Arrows Capital."