DeFI News by Thebittimes.Com

It’s been several months following the downfall of Terra. The dramatic de-pegging of TerraClassicUSD [USTC] brought down the entire network and its investors. Amidst all of this, Do Kwon, the creator of the project decided to escape and hide his whereabouts. While several prosecutors and governments were on the lookout for Kwon, he decided to call police across the globe for a “meet up.” Kwon made a lot of commotion earlier today on Twitter . As was previously noted, Kwon has been sought after by both Interpol and South Korean authorities. The developer of Terra refuted charges of being in hiding repeatedly . Angered by the situation, he made the decision to challenge the police by organizing &ldquo ;a meetup/conference soon” and even pushed them to attend. Alright ill throw a meetup/conference soon to get over this in hiding bs Cops from world over welcome to attend — Do Kwon 🌕 (@stablekwon) November 3, 2022 The above tweet was soon ...

Binance burns its second “Luna Classic” burn of commissions from spot and margin trading pairings shortly after the announcement. Following the tragic failure of Terra and its assets, LUNC and UST, and Do Kwon’s resignation, the effort transformed into a community-driven organization. Binance, a well-known cryptocurrency exchange , appears to be backing the initiative right now. To begin, the platform stated on September 26 that it will burn all trading costs for LUNC spot and margin pairs . Binance unveiled the first burn numbers, which stood at $1. 86 million worth of LUNC . The LUNC burns have received their second update, according to Binance. From 02-10-2022 to 08-10-2022, the exchange was able to burn the following amount of LUNC . JUST IN: #Binance burned $922,800 worth of $LUNC fees collected from spot and margin trading pairs. — Watcher.Guru (@WatcherGuru) October 10, 2022 Binance burns $922,800 worth of LUNC As stated in i...