A pseudonymous analyst called "FatMan" has spoken up about the exploit and said that the protocol might collapse as the developers do not appear to be taking any action.
The country's parliament plans to introduce laws that will increase the supervision of digital currency exchanges, as discussed during a two-day National Assembly emergency seminar held this week.
South Korean police have sent notices to digital currency exchanges requesting that they freeze all funds related to Luna Foundation Guard (LFG).
In his recent video, Joshua Henslee talks about how Bitcoin is and always was supposed to be cash, how it should be used, the inefficiency of the current payments system, and the need for Bitcoin.
The G7 inter-governmental political forum is the latest global body to highlight the need for digital currency regulations, imploring the FSB to establish the regulations quickly.
The unit is a joint financial and securities crime investigation team from the Financial Services Commission and the Financial Supervisory Service and was disbanded in 2020.
Sam Bankman-Fried, whose FTX exchange sold both UST and LUNA, has emerged to tell the Financial Times that Bitcoin has no future as a payments network.
Many blockchains and digital currencies assert to be “decentralized,” however, its short history has proven this to be demonstrably false, as several incidents have occurred in the past six years proving so.
The country’s regulators have said they will use the Terra debacle to raise awareness among digital asset investors following the LUNA meltdown.
An algorithmic stablecoin lost its peg to the U.S. dollar, and as a result, it caused the algorithm to print mass amounts of LUNA token, causing it to crater from $100+ to pennies overnight.
Joshua Henslee released a video discussing his take on the digital currency market chaos last week, particularly how the 'leaders' in the space are handling the issue.
Coinbase reported a loss of US$430 million in Q1 2022 as revenue slipped 27% compared to a year ago, and the stock ($COIN) has now lost 70% of its value since March.
