TerraUSD
![article-image](/_next/image?url=https%3A%2F%2Fblockworks-co.imgix.net%2Fwp-content%2Fuploads%2F2023%2F10%2Flegal-motino.jpg&w=1536&q=40)
Terraform seeks documents from Citadel, alleging there’s a possibility Citadel was involved in the UST depeg
![article-image](/_next/image?url=https%3A%2F%2Fblockworks-co.imgix.net%2Fwp-content%2Fuploads%2F2023%2F03%2Fdoj-terrausd.jpg&w=1536&q=40)
The Department of Justice, like the SEC in recent weeks, alleges Do Kwon and Terraform Labs misled investors about the risks of TerraUSD
![article-image](/_next/image?url=https%3A%2F%2Fblockworks-co.imgix.net%2Fwp-content%2Fuploads%2F2022%2F12%2Fdokwonserbia.jpg&w=1536&q=40)
Embattled crypto entrepreneur Do Kwon is now believed to be based in Serbia, having already hopped from South Korea to Singapore and Dubai
![article-image](/_next/image?url=https%3A%2F%2Fblockworks-co.imgix.net%2Fwp-content%2Fuploads%2F2022%2F01%2F2022-10-25-Near-Foundation.png&w=1536&q=40)
A non-profit funding the NEAR protocol to use $40 million to protect USN investors after it became undercollateralized
![article-image](/_next/image?url=https%3A%2F%2Fblockworks-co.imgix.net%2Fwp-content%2Fuploads%2F2022%2F07%2FCurve.jpg&w=1536&q=40)
The news comes as regulators around the world continue to consider how to deal with the aftermath of TerraUSD’s collapse
![article-image](/_next/image?url=https%3A%2F%2Fblockworks-co.imgix.net%2Fwp-content%2Fuploads%2F2022%2F06%2FDo-Kwon-Terra-UST-.jpg&w=1536&q=40)
Prosecutors want to examine seized materials, question witnesses and determine whether TerraUSD’s crash was intentional
![article-image](/_next/image?url=https%3A%2F%2Fblockworks-co.imgix.net%2Fwp-content%2Fuploads%2F2022%2F05%2FStablecoins-revised.jpg&w=1536&q=40)
One month on from Terra ecosystem implosion, only one cryptoasset in the top 100 is in the green
![article-image](/_next/image?url=https%3A%2F%2Fblockworks-co.imgix.net%2Fwp-content%2Fuploads%2F2022%2F06%2FDAI-crypto-token-MakerDAO.jpg&w=1536&q=40)
Umee, a cross-chain borrowing and lending DeFi hub, advocates for tighter integration between Cosmos and MakerDAO
![article-image](/_next/image?url=https%3A%2F%2Fblockworks-co.imgix.net%2Fwp-content%2Fuploads%2F2022%2F06%2Fshutterstock_1906831114.png&w=1536&q=40)
The new legislation, which comes into effect in 2023, defines stablecoins as digital money and restricts issuance to licensed financial institutions
![article-image](/_next/image?url=https%3A%2F%2Fblockworks-co.imgix.net%2Fwp-content%2Fuploads%2F2022%2F05%2FStablecoins-revised.jpg&w=1536&q=40)
A consultation paper suggests the Bank of England should oversee payment systems that “threaten the stability of the UK financial system”
![article-image](/_next/image?url=https%3A%2F%2Fblockworks-co.imgix.net%2Fwp-content%2Fuploads%2F2022%2F05%2F2022-05-24_Blockworks_Hammond.jpg&w=1536&q=40)
Blockchain Association’s director of government relations said concrete actions likely to come in 2023
![article-image](/_next/image?url=https%3A%2F%2Fblockworks-co.imgix.net%2Fwp-content%2Fuploads%2F2022%2F05%2FLuna-token.jpg&w=1536&q=40)
Over 280 million LUNA have been sent to an address which permanently removes it from circulation, a process also known as burning
![article-image](/_next/image?url=https%3A%2F%2Fblockworks-co.imgix.net%2Fwp-content%2Fuploads%2F2022%2F05%2FBLOCKWORKS_175_TERRAUSD_300.jpg&w=1536&q=40)
The latest governance maneuver from Do Kwon is set to pass, with the original chain’s native asset to become “Luna Classic”
![article-image](/_next/image?url=https%3A%2F%2Fblockworks-co.imgix.net%2Fwp-content%2Fuploads%2F2022%2F05%2FMy-project-9.jpg&w=1536&q=40)
Algorithmic stablecoins are especially complex, and UST’s crash likely influenced institutional players to take a closer look at the technology behind the tokens
![article-image](/_next/image?url=https%3A%2F%2Fblockworks-co.imgix.net%2Fwp-content%2Fuploads%2F2021%2F10%2FBLOCKWORKS_66_STABLECOINS_300.jpg&w=1536&q=40)
Stablecoins have been responsible for great transactional autonomy, Castle Island Ventures’ Nic Carter told the Permissionless crowd. “No government is going to give that to us.”
![article-image](/_next/image?url=https%3A%2F%2Fblockworks-co.imgix.net%2Fwp-content%2Fuploads%2F2022%2F05%2FJanet-Yellen-Treasury-2.jpg&w=1536&q=40)
UST’s crash was only just beginning when Yellen appeared before senators Tuesday morning
Get the daily newsletter that helps thousands of investors understand the markets.