https://t.me/Terra_Luna_Tron

2022-11-17 21:50:01 Audit reveals Luna Foundation Guard spent $2.8B to defend UST peg in May

According to the report, Terraform Labs also spent $613 million of its capital to defend the UST peg. JS Held wrote that LFG’s May 16 tweets about its defense operation were accurate except for certain tweets based on estimates — the auditor said the estimates did not affect the calculation of the ending balances. According to the Foundation, all peg defense activities occurred in the open markets, with no special preference for any party. The Foundation also wrote that its funds were not frozen. It added that they are kept in self-hosted wallets that have not been moved since May 16. Speaking on the revelation, Luna Foundation said the audit dispels rumors that there was embezzlement of funds or that the funds were used to profit insiders.

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2022-11-16 21:41:02 Luna Foundation Guard says it spent $2.8 billion to defend UST peg

Luna Foundation Guard (LFG), a non-profit created in January to grow the Terra ecosystem, has published an audit stating that it spent $2.8 billion in bitcoin and stablecoins to defend the TerraUSD (UST) stablecoin peg during the May collapse. LFG was set up to defend the UST peg as one of its mandates. The organization held bitcoin, stablecoins. The audit was performed by JS Held, according to an LFG statement on Wednesday. The audit report stated that LFG spent 80,081 BTC and $49.8 million in stablecoins, amounting to $2.8 billion in total, to defend the UST peg. This defense happened during the Terra ecosystem's death spiral that occurred in May. At the time, UST lost its parity with the U.S. dollar.

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2022-11-15 23:30:50 Tron Founder Justin Sun Reportedly Takeover Huobi Global

Tron founder Justin Sun has reportedly taken over the crypto exchange Huobi Global business. Former Huobi CEO Zhu Hua, CFO Zhang Li, and other senior executives have voluntarily resigned, as per sources. In October, Huobi Global announced Justin Sun as an advisor on the global strategic advisory board among several other notable people from the crypto and blockchain industry. According to a November 15 tweet by wublockchain12, Tron founder Justin Sun’s team has officially taken control of the business of crypto exchange Huobi. Moreover, Huobi’s former CEO Zhu Hua and CFO Zhang Li have officially resigned. Chen Dai, the former head of Huobi PR/GR, also bid farewell to Huobi.

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2022-11-14 22:00:52 FTX gets rescued by Justin Sun and OKX in billion dollar deal

Sam Bankman-Fried is facing a major crisis surrounding his own exchange FTX as a major liquidity crunch unraveled over the last week. Initially, Binance stepped in to acquire the assets of FTX.com, however, after due corporate diligence they decided to back out citing reasons of “mishandling of customer’s funds and US agency investigations”. Now reports have emerged that SBF has approached Tron’s Justin Sun to help him bail out of the current crisis. In a desperate attempt to save the FTX exchange facing a liquidity crisis, Sam Bankman-Fried is looking to raise a staggering $9.4 billion. As per the sources familiar with the matter. SBF is looking to raise $1 billion each from Tron’s founder Justin Sun, rival OKX, and stablecoin issuer Tether.

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2022-11-13 23:20:00 TRON Founder Justin Sun on FTX Fallout

Justin Sun, TRON Founder, Huobi Global Advisor, and Ambassador of Grenada to the WTO, discusses the fallout for FTX and how he might help the troubled crypto exchange. Plus, what the FTX collapse means for the wider crypto industry. Justin Sun, founder of the crypto token Tron, said he was prepared to provide distressed cryptocurrency exchange FTX with billions in aid, according to a tweet by a Bloomberg News reporter on Friday. The funding is subject to due diligence and is a "good moment to show unity in the crypto industry", the tweet said, citing Sun.Regulators froze some assets of FTX and industry peers raced to limit losses on Friday amid worsening solvency problems at the firm and heightened scrutiny of its chief executive, Sam Bankman-Fried.

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2022-11-12 23:03:01 Tron-based tokens sell at 1200% premium as FTX users scramble to withdraw

Tron-based tokens such as JUST (JST) have surged as much as 1000% on FTX as users scramble to find ways of extracting locked-up liquidity from the beleaguered exchange. At the time of writing, Tron’s native token Tron is trading at roughly $0.33 on the FTX exchange, more than five times its current market price, according to CoinGecko. Meanwhile, BitTorrent (BTT), JST and the Sun Token (SUN) are trading on the exchange at premiums ranging from 525% to 1,196% compared with the market price. As it stands, the prices are extremely volatile and constantly changing. The overinflation of Tron-related tokens comes after a Nov. 10 deal was struck which allows holders of assets such as TRX, BTT, JST, and SUN to withdraw funds.

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2022-11-11 22:50:05 Tron's TRX Jumps 140% Amid 1:1 FTX Redemption of Tron-Based Tokens

TRX, the native token of the Tron network, surged over 140% on cryptocurrency exchange FTX, from 12 cents to 29 cents after Tron founder Justin Sun agreed to move Tron-based assets from FTX to external wallets. “We are pleased to announce that we have reached an agreement with Tron to establish a special facility to allow holders of tron (TRX), bittorrent (BTT), just (JST), sun (SUN) and huobi token (HT) to swap assets from FTX 1:1 to external wallets,” FTX tweeted Thursday. Holders of those tokens can redeem their assets starting at 18:30 UTC (1:30 pm ET), FTX said.

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2022-11-10 22:40:08 Tron's Justin Sun Announces Plans to Return ‘Normalcy for All FTX Users’

Tron founder Justin Sun has emerged as the next possible savior of FTX, as he said a plan was being hatched for users to “return to normalcy.”. Following the breakdown of Binance’s rescue bid for FTX, Sam Bankman-Fried’s company is facing potential bankruptcy without a cash injection. Now, Sun has stepped into the fray, claiming that a solution is being crafted “to resuscitate and return to normalcy for all FTX users.”. A statement posted by centralized exchange Huobi—for which Sun is an executive advisor— promised that holders of TRX, SUN, JST, BTT, and HT (all Sun- and Huobi-related tokens) would be able to redeem them on a 1:1 basis even if withdrawals from FTX fail.

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2022-11-09 23:40:07 Messari Releases Q3 2022 State of TRON and State of USDD Reports

Messari, the leading provider of crypto market intelligence, released two quarterly analysis reports related to the TRON ecosystem – State of TRON Q3 2022 and State of USDD Q3 2022. Both reports indicated positive conclusions about the stable and secure strength of USDD and the TRON network as a whole. The USDD report marked the first time Messari provided market intelligence in quarterly report form on the over-collateralized stablecoin issued by the TRON DAO Reserve (TDR), custodian of USDD, currently with nine whitelisted members. USDD is backed by select crypto assets, including BTC, USDT, USDC, and TRX.

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2022-11-09 00:40:10 Do Kwon faces new $56 million lawsuit in Singapore over role in Terra crash

Troubled Terraform Labs founder Do Kwon is facing a new representative action lawsuit in Singapore regarding his role in the Terra (LUNA) crash. The suit worth $56.9 million was filed by over 300 plaintiffs who accuse Kwon of misleading them into believing that the Terra ecosystem stablecoin. According to court documents, the plaintiff referred to the Terra whitepaper that alleged that UST was stable and immune to volatility and demand due to its alleged design to retain a peg in such conditions. Furthermore, they are seeking compensation for fraudulent misrepresentation. Notably, the $56.9 million cited in the suit refers to the difference in value between the amount in US dollars.

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