Terra Classic (LUNC) is the original token of the Terra blockchain protocol, launched in 2018 with the goal of creating a decentralized and stable financial system. Initially designed to support a stablecoin called TerraUSD (UST), which was pegged to the value of the US dollar, LUNC was intended to provide a fast, secure, and scalable platform for decentralized applications and DeFi protocols. However, in May 2022, the UST stablecoin lost its peg, causing a significant decline in the value of LUNC. As a result, the Terra network was forked, and a new chain called Terra 2.0 was launched, which does not support the UST stablecoin and has a new token called LUNA. Although the Terra Classic network is still operational, it is no longer supported by the Terra team, and the use of LUNC is not recommended due to the associated risks.
A Nomic bug minted unbacked nBTC, blew a 36% hole in an Osmosis bitcoin fund and somehow went unnoticed for 74 days.
Bitcoin fell under $77K after hot U.S. PPI data fueled Fed rate hike fears, driving $562M in crypto liquidations.
Nasdaq Ventures will invest $100 million in Kraken parent Payward as the firms expand their tokenized stock partnership.
Coinbase CEO Brian Armstrong says bitcoin has likely bottomed as stablecoins, tokenization and crypto growth gain steam.
Liquid's phased resumption follows a major exploit. Read about the Liquid team's actions post-hack and future security plans.
