Breaking: Binance Suspends LUNA and UST “Spot” Trading Till Further Notice
Binance has made a decision to suspend spot trading for two more trading pairs involving the embattled Terraform assets TerraUSD (UST) and Terra (LUNA) amid increasing rates of decline.
Elon Musk has temporarily halted the Twitter deal, pending details supporting the calculation that spam and fake accounts do indeed represent less than 5% of users.After confirming the $44 billion deal with Twitter’s board earlier this year, Musk may be reconsidering the deal.
Changpeng Zhao, popularly referred to as CZ, is the founder and Chief Executive Officer of Binance. Speaking from his official Twitter handle, he revealed what prompted the decision to take LUNA and UST off Binance.
Swiss asset manager GAM Holding said on Friday it is not in talks with Terra developer Terraform Labs over a possible bailout.GAM said in a press release that an earlier release suggesting the company could invest between $2 billion to $3 billion in Terra was fake, and that it had not issued any such announcement.
The Terra blockchain was halted for the second time in 12 hours on Friday, as developers seek more time to come up with a recovery plan.The move comes as LUNA- its native token- crashed to a value of below 1 cent, while the UST stablecoin’s dollar “peg” now stands at less than $0.2.
El-Salvador, a country in Central America reported that due to the recent fluctuation of the cryptocurrency, Bitcoin, it has bagged numerous losses leading to about $40 million as noted by Bloomberg in a recent report.
Earlier this morning, Zhu Su went on to express his unhappiness towards the Luna slide in a series of tweets. Zhu Su, the CEO of 3AC, conveyed remorsefulness and apologised for ignoring the frequent warnings from Terra’s ecosystem.
Terra’s LUNA supply increased massively on South Korean exchanges on Friday after several global exchanges decided to delist the token.LUNA held on South Korea’s top crypto exchanges Upbit, Bithumb, Coinone, and Korbit have blown past 4 billion.
ETH price tracks higher amid broader crypto market relief rally with decent gains. ETH started the session on a pessimistic note but the buyers gather strength and moved higher. However, the recent downswing pushed it to test the levels last seen in July 2021.