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According to CoinDesk's main insights columnist, conspiracy theories will not shelter you from financial realities.
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Terra's revival plan has been updated three times. This includes raising genesis liquidity, implementing a new liquidity profile, and reducing allocation for select investors.
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Changpeng Zhao, who is still a billionaire, most certainly meant it as a joke, but luna's collapse has hurt investors worldwide.
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Do Kwon, the eccentric 30-year-old developer of the UST and Luna coins, cemented his reputation as one of crypto's most known individuals, for all the wrong reasons.
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Ackman tweeted his disdain of Terra and that the cryptocurrency industry 'self-regulate' projects with 'no underlying business concepts.'
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The entire business is in jeopardy due to an unprecedented fall in algorithmic stablecoins.
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The Luna Foundation Guard has purchased $1.3 billion worth of BTC as of this writing, with plans to extend this to $3 billion in the near future.
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Once again, the price of Bitcoin has crossed the $42,000 mark. There was an increase in the value of Ethereum and XRP, with the latter moving approaching a value of USD 0.75. LUNA and STX each gained more than 4% in one hour.