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ust

brown bear (Fabe collage, Unsplash)
First Mover Asia: Bitcoin Dominates but Altcoins Lurk
Although Terra's collapse has raised existential questions about the future of DeFi, some traders appear to be preparing for a return to altcoins; BTC remains rangebound below $30,000 in Tuesday trading.
brown bear (Fabe collage, Unsplash)

South Korea
South Korean Authorities Look to More Closely Scrutinize Exchanges Following Terra Meltdown: Report
Around 280,000 South Koreans are believed to have been victims of the abrupt plunge in UST and LUNA.
South Korea

CDCROP: The EU flag (Christian Lue/Unsplash)
ECB Warns That Crypto Risks Could Spill Over Into Wider Economy
Given the increasing risks of crypto, it is important to bring it into the regulatory perimeter as a matter of urgency, the European Central Bank said in a report.
CDCROP: The EU flag (Christian Lue/Unsplash)

Terra Washington Nationals
Korean Police Move to Freeze Luna Foundation Guard Assets: Report
Seoul police are seeking to ban the entity from withdrawing suspected embezzled funds.
Terra Washington Nationals

A pile of trash in the Terra Club at Nationals Ballpark (Danny Nelson/CoinDesk)
Regulators Are Paying Attention to UST
The collapse of terraUSD (UST) is algorithmic stablecoins’ Libra moment.
A pile of trash in the Terra Club at Nationals Ballpark (Danny Nelson/CoinDesk)

Justin Sun on CoinDesk TV’s “First Mover” (CoinDesk TV, modified by CoinDesk)
Justin Sun Still Thinks Algorithmic Stablecoins Are a Good Idea
The crypto mogul also said LUNA and UST might make good "meme coins," he said on CoinDesk TV’s “First Mover.”
Justin Sun on CoinDesk TV’s “First Mover” (CoinDesk TV, modified by CoinDesk)

Luna. (Ralph Mayhew/Unsplash)
No es solo LUNA: las aplicaciones DeFi de Terra han perdido $28.000 millones
Los inversores han abandonado en gran medida el ecosistema Terra, ahora evidente en los protocolos DeFi en la blockchain, y los analistas siguen siendo escépticos sobre sus perspectivas a largo plazo.
Luna. (Ralph Mayhew/Unsplash)

Flag (Ramberg/Getty Images)
UK Regulator to Consider Terra Coins’ Collapse in New Crypto Rules: Report
Market instability in stablecoins will need to be taken into account, the FCA's executive director for markets said.
Flag (Ramberg/Getty Images)

Markets Daily Podcast Cover
Crypto News Roundup for May 19, 2022
With bitcoin steadying below $30,000, and a look at the human costs of speculation, CoinDesk’s Markets Daily is back with the latest news roundup.
Markets Daily Podcast Cover

moon cloud
Despite Recent Bumps in the Road, Stablecoins Will Stick Around
Why institutional investors will again move past digital assets’ volatility and bad headlines.
moon cloud