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How Terra collapse nearly killed algorithmic stablecoins

The spectacular failure of Terra has caused money to flee from algorithmic stablecoins and has seen many abandon their plans.

Terra victims have one month to file crypto loss claims, court

The August deadline set for Terra/LUNA victims to submit their crypto loss claims will determine who can vote in bankruptcy proceedings.

It’s claimed that Milojko Spajić made a deal with Do Kwon to buy millions of dollars of Terra/Luna tokens for a Bulgarian-based hedge fund.

Do Kwon has successfully appealed his extradition, sending his case back to a Montenegro court for retrial.

Montenegro has granted Terraform Labs founder Do Kwon extradition to either South Korea or the US, but the court will decide.