South Korea Financial News

19.05 / 23:37

Adoption Bitcoin Try topping this: PizzaDAO celebrating Bitcoin Pizza Day with 100 parties worldwide

Pizza DAO, the decentralized blockchain project seeking to unite the global community of pizza fanatics with the technological potential of Web3, are celebrating Sunday's Bitcoin Pizza Day in authentic style.

19.05 / 22:31

markets Stablecoin Analysis avalanche Here’s why Terra’s snowball effect could send Avalanche (AVAX) price to $15

Avalanche (AVAX) has emerged as one of the worst-performing cryptocurrencies among the top-ranking tokens in the last 24 hours, partially due to fears connected to Terra (LUNA) and its a near-dead UST algorithmic stablecoin project.

19.05 / 14:51

Galaxy Digital Pantera Capital Terra A Curious Coincidence – Major Terra Backers Break Silence on Same Day

Several major backers of Terra (LUNA) and its failed algorithmic stablecoin terraUSD (UST) spoke out about last week’s dramatic events this Wednesday, after staying largely silent since the collapse happened 10 days ago. On the same day, Do Kwon’s plan for a new Terra blockchain was put to vote.

19.05 / 13:31

CryptoExplainer Luna Luna Will Rise From Ashes, Bet Crypto-Loving South Koreans

Crypto-loving S.Koreans bet on Luna rising from ashes, worrying regulator

19.05 / 13:07

Blockchain Lowe's CEO Luna Terra Co-Founders to Face Fraud Charges in South Korea

The challenges ahead for Terra’s co-founders are notably more than just reviving the protocol after UST and LUNA coins collapsed last week.

19.05 / 12:11

Binance MARKET Trading Premium South Korean LUNA Buying Skyrockets, Token Trading at Huge Premium on Domestic Exchanges

While some furious South Korean crypto investors are readying multiple lawsuits for Do Kwon and the masterminds of the troubled terra (LUNA) protocol, others in the country are snapping up LUNA tokens at rock-bottom prices – even though the coin is currently being delisted from most major exchanges in the country.

19.05 / 11:47

regulation Terra tax evasion South Korean watchdog reportedly fines Terraform Labs $78M for tax evasion

Terraform Labs and co-founder Do Kwon continue to attract more legal trouble in the wake of the collapse of the Terra ecosystem. After early reports of a possible congressional hearing and an investigation from 'Grim Reapers' financial crimes unit, the crypto firm has now come under the radar of the national tax agency.

19.05 / 05:09

business regulation investigation Terra Financial 'Grim Reapers' financial crimes unit revived to investigate Terra collapse

Legal troubles are mounting for the co-founder of failed Terra crypto project Do Kwon as the South Korean government revives the dormant "Grim Reapers of Yeoui-do" to investigate Terra’s fall.

18.05 / 19:41

Altcoins Investing Legal Terra Legal Storm Brewing for Terra's Do Kwon & Co as ‘Hundreds’ of Investors Ready Complaints

Another headache appears to be incoming for Do Kwon (full name Kwon Do-hyeong) and his company Terraform Labs – with investors in South Korea ready to wage a legal battle against the CEO.

18.05 / 17:05

Bitcoin How the crypto crash exposes the hollowness of its libertarian promise

To its advocates, cryptocurrency is, at its heart, a libertarian project to free mankind from the shackles of government — most of all its power to debase a “fiat” currency by printing more of it. Do Kwon, the South Korean creator of the stablecoin TerraUSD, regularly equated fiat currency to “state violence.”

18.05 / 15:17

Bitcoin Crypto Meltdown Exposes Hollowness of its Libertarian Promise

To its advocates, cryptocurrency is, at its heart, a libertarian project to free mankind from the shackles of government—most of all its power to debase a “fiat” currency by printing more of it. Do Kwon, the South Korean creator of the stablecoin TerraUSD, regularly equated fiat currency to “state violence.”

18.05 / 14:01

Blockchain Stablecoin Altcoins Terra Do Kwon’s Plan for New Terra Blockchain Becomes ‘Final’

A plan to revive the Terra (LUNA) ecosystem by creating a new blockchain without an algorithmic stablecoin has been designated as “final” by Terraform Labs CEO and co-founder Do Kwon.

18.05 / 09:13

regulation Report White Paper South Korean legislature considering new licensing system for crypto

A report commissioned by South Korea’s federal government recommends the domestic crypto industry adopt a licensing system for exchanges and token issuers as a way of protecting investors.

17.05 / 14:51

business Stablecoin regulation Terraform Labs Terra hearing Do Kwon summoned to parliamentary hearing following UST and LUNA crash

The dramatic fall of Terra (LUNA) along with the algorithmic stablecoin UST has been a major talking point among the crypto industry. And now South Korean conservative party has requested a parliamentary hearing on the matter.

17.05 / 12:25

Stablecoin Altcoins regulation Terra hearing politician Financial South Korean Financial Regulators Begin Terra Probes, Politician Calls for Kwon to Face Parliamentary Hearing

The Terraform Labs mastermind Do Kwon (real name Kwon Do-hyeong) could be facing trouble from financial and law enforcement authorities in South Korea and Singapore as a torrid month for the Terra (LUNA) platform just keeps getting worse.

17.05 / 12:11

Blockchain Stablecoin SEC Bitcoin Threat financial stability Financial This week’s Law Decoded: Is depegging a real threat to financial stability?

This week will be remembered as the one when the stablecoins showed an unexpected ability to depeg. Terra’s TerraUSD (UST) dropped to a shocking $0.29 following the general meltdown of both crypto and financial markets, but it was also the headliner of stablecoins’ niche, while Tether (USDT) lost the balance and slid to $0.96 for a short time.

17.05 / 08:13

cryptocurrency stablecoins TerraUSD Terra Luna Terra crisis: Family bonds shattered, dreams ripped apart

With last week’s Terra collapse wiping out $40 billion worth of investor wealth, cryptocurrency traders have been rattled and have lost any hope of recovering their money.

17.05 / 03:15

Exchange fees banking South Korean Banks Earned USD 31M in Crypto Transaction Fees Last Year

Three South Korean banks earned USD 31.2m from their crypto exchange partnership deals in 2021, new data has revealed – suggesting that partnering with trading platforms could be paying off for the often-cautious domestic banking sector.

17.05 / 02:17

Blockchain Lowe's Luna open With UST’s depegging ‘LUNA-cy’ out in the open, regulators begin to get jittery

“You get regulated!”

16.05 / 16:49

Stablecoin Altcoins Terra Terra's Do Kwon Liquidated the South Korean Arm of Terraform Before LUNA & UST Crisis

New reports fuelled speculations that Do Kwon (real name Kwon Do-hyeong) may have been aware of a storm brewing for the terra (LUNA) platform – and that the Terraform Labs mastermind may have taken action to dissolve domestic parts of his company as early as last month in anticipation.

16.05 / 06:07

Blockchain Altcoin Hard Fork Terra Usd Terra Major validator calls for ‘completely new chain’ to replace Terra

As the dust settles from the Terra ecosystem crash, and the community decides what the next steps should be, the CEO of a validator runner in South Korea thinks the old Terra chain should be shut down permanently.

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