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South Korean politician calls for hearing on Terra crisis

Yun Chang-Hyun, a representative from South Korea’s ruling People Power Party, has called for a parliamentary hearing on TerraUSD (UST) after the stablecoin’s sudden collapse last week, local news outlet Newspim reported on Tuesday. “We should bring related exchange officials, including CEO Do Kwon of Terra, which has become a recent problem, to the National Assembly to hold a hearing on the cause of the situation and measures to protect investors,” Chang-Hyun reportedly said today at a plenary meeting of the …

Dispersed and displaced, Ukraine’s crypto industry adapts to war

At the outset of the Russian invasion, Ukraine’s use of crypto donations to fund its war effort drew mass attention from the global crypto industry.  At the same time, the conflict displaced the entire local crypto industry. Some firms have left, while others have relocated within Ukraine.  Now, many are returning to work, with varying success. And the nation, which recently passed a law aimed at cultivating the local crypto industry, is hoping crypto entrepreneurs will help it recover once …

Terra fork won’t work, says Binance CEO Changpeng Zhao

Binance CEO Changpeng Zhao says he doesn’t think Terra’s plan of forking the blockchain will work because it won’t provide any value. “This won’t work,” Zhao said in a tweet on Saturday. “Forking does not give the new fork any value. That’s wishful thinking.” Zhao’s tweet came a day after Do Kwon, the founder and CEO of Terraform Labs, proposed a revival plan for Terra after its collapse last week. Kwon pitched forking the Terra blockchain — creating a new …

Central African bank regulator reminds member states of crypto ban, Reuters reports

Central Africa’s regional banking regulator reminded member states on Friday of its ban on cryptocurrencies, just weeks after the Central African Republic (CAR) made bitcoin legal tender, Reuters said. The reminder came after a chaotic week for crypto when the linked meltdown of the algorithmic stablecoin UST and Terra’s native Luna asset resulted in big losses for many of those involved. It also led to stoppages of the Terra blockchain and market trading halts as the circulating supply of Luna …

 Crypto VC firm Paradigm communications chief Jim Prosser to step down next month

Jim Prosser, head of communications at crypto venture capital firm Paradigm, said early this morning via Twitter that he would be leaving the company after working there for about a year. “Personal news,” said Prosser’s post, “I’m leaving @paradigm later next month. The past year has been an incredible learning experience alongside the smartest team in all of crypto investing, but I want to take a pause after a decade of demanding roles.” He previously worked as a communications executive …

After Terra’s stablecoin implosion, battered investors ask ‘where is Do Kwon?’

With angry investors facing heavy losses following TerraUSD’s dramatic de-pegging this week, users on the Terra Research Forum and Reddit are now asking where Terraform Labs CEO Do Kwon is and even calling for his arrest. The Terra crypto ecosystem was thrown into chaos this week when its TerraUSD (UST) algorithmic stablecoin de-pegged sharply from the US dollar. The crisis has seen both the price of UST and its related Luna token tumble, resulting in billions of dollars of losses …

Bitstamp appoints new CEO after Julian Sawyer’s sudden departure

Crypto exchange Bitstamp announced on Monday that CEO Julian Sawyer has left the company, with Europe CEO JB Graftieaux promoted to replace him. Sawyer, who had been in the role for 18 months, has “decided to pursue other opportunities,” Bitstamp wrote in a statement on Monday, confirming reports from The Block on Saturday. Graftieaux served as Bitstamp’s chief compliance officer between November 2014 and February 2016 before he left for a five-year stint at eBay, according to his LinkedIn profile. …

Julian Sawyer may be out as chief of Bitstamp after short tenure

Julian Sawyer’s time as CEO of Luxembourg-based crypto exchange Bitstamp appears to have ended. Sawyer’s Twitter page now says: “Ex-CEO at @Bitstamp, co-founder at @Starlingbank, Honorary fellow at @Bayes Business School and advisor at @Voltbank. All views my own.” His LinkedIn account says: “Ex-Chief Executive Officer at Bitstamp.” The Block reached out to Sawyer through Twitter and LinkedIn seeking his response but had not received any reply by the time this story was published. It was only about 18 months …

South Korean president-elect’s crypto plans disappoint fintech groups: report

The Korea Society of Fintech & Blockchain (KSFB) and the Korea Digital Asset Service Provider Association (KDA) said President-elect Yoon Suk-yeol’s cryptocurrency policy proposals were disappointing because they left out crucial objectives, Forkast reported on Friday. Yoon will take office on May 10.  While the incoming administration released 110 national tasks earlier this week that included supportive policies on cryptocurrencies, it omitted the establishment of a government agency dedicated to digital assets and detailed plans on promoting the cryptocurrency market, …

Trump’s attempt to lift permanent Twitter ban dismissed by federal judge

Former President Donald Trump’s lawsuit against Twitter seeking to lift his permanent suspension from the social media giant was dismissed by a federal judge on Friday. San Francisco federal District Judge James Donato wrote that Trump’s argument that the ban violated his First Amendment right to free speech was not persuasive because Twitter is a private company. “The First Amendment applies only to governmental abridgements of speech, and not to alleged abridgements by private companies,” Donato wrote, adding that Trump’s …