Crypto investors sue Binance US over marketing Terra’s UST as ‘safe’
Investors are suing Binance US, alleging illegal business practices, deceptive marketing, and fradulent claims that LUNA/UST were "safe."
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Investors are suing Binance US, alleging illegal business practices, deceptive marketing, and fradulent claims that LUNA/UST were "safe."
The UST co-founder was accused of siphoning off $2.7 billion in 33 monthly withdrawals of $80 million each.
A press release stated asset manager GAM Holding could be injecting $3 billion into failing stablecoin Terra (UST) — turns out, it's fake.
The stablecoin's recent crash has wiped $17.5 billion from the raft of projects banking on its success.
— Crypto, Stablecoin
Third-largest stablecoin UST de-pegged from the US dollar, traded as low as $0.62, and lost over $4 billion in market capitalization.