Binance’s CZ says he is ‘skeptical’ about the Terra relaunch
Binance CEO CZ voices skepticism around the relaunch of the Terra blockchain and its new LUNA token following the latest fiasco. Binance CEO Changpeng Zhao, also known as CZ, expressed skepticism around the revival plan for the Terra ecosystem and the launch of the new LUNA token.“I try not to predict what the community will do. [...] Many are skeptical. I’m one of those guys,” said CZ in an exclusive interview with Cointelegraph.Following the collapse of TerraUSD (USD), the Terra ecosystem’s stablecoin, CZ criticized its team for not handling the crisis properly and pointed at the....
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After the de-pegging fiasco occurred on the Terra ecosystem amid the recent bloodbath, Do Kwon, founder of the crypto project, proposed the Luna ‘Revival Plan 2’ a week ago to prevent a total collapse. Afterward, the company announced today via a tweet that the proposal to salvage the Terra blockchain is now approved. In line […]
Terra 2.0 launced with the promise of helping to retrieve lost funds, but early indicators suggest launching a new token to compensate for the failure of another is a bad idea. Terra remained the focus of the majority of headlines throughout May for its spiral collapse leading to a loss of over $40 billion in investors’ money. Despite some early resistance from the community and heavy backlash from the likes of Binance CEO Changpeng “CZ” Zhao, Terra co-founder Do Kwon managed to relaunch the collapsed network with a new chain called Terra 2.0 (Phoenix-1).The amended proposal for the....
HitBTC plans to list Terra's brand new token LUNA on May 27 as the suspended Terra Classic blockchain is expected to revive as Terra 2.0. Crypto trading platforms show initial signs of support for the revival of the collapsed Terra network by listing Terra's brand new token, also named LUNA.The HitBTC exchange took to Twitter on Wednesday to announce that Terra’s new chain token Luna will be available on its platform on May 27.The news comes amid Terraform Labs preparing to relaunch its protocol on May 27 and replace the old chain referred to as Terra Classic with the new chain called just....
Amid significant regulatory shifts under President Trump’s administration, Binance is gearing up to relaunch in the United States, potentially reducing the stakes held by its former CEO, Changpeng Zhao (CZ). Following years of legal hurdles that culminated in Zhao serving time in prison, his recent presidential pardon has revitalized the exchange’s prospects within the US […]
At 12:14 p.m. (ET), the Twitter account operated by the Terra team announced that the Terra blockchain network had been halted. According to the Terra developers’ tweet, Terra validators needed to apply a patch to further disable delegations. ** This post was updated at 3:00 p.m. (ET) to reflect the fact that the Terra blockchain has resumed block production. Terra Blockchain Halts in Order to Prevent Governance Attacks, Team Says Restart Coming Soon At the time of writing, the Terra blockchain has stopped block production since the mid-afternoon Eastern Standard. The team’s....