Desperate LUNA Investor Arrested, New Terra Network Announcement, Davos Blockchain Talk, and More – Bitcoin.com News Week in Review – The Weekly Bitcoin News
From an ill-advised desperate investor visit to the home of Terra Do Kwon co-founder leading to the arrest and announcement of a new Terra network and blockchain talks in Davos, to predictions that the US economy will collapse if inflation is not quickly brought under control, there is no shortage of action-packed crypto stories during the week Past. Without further ado, this is Bitcoin.com News Week in review.
LUNA investor arrested for knocking on Do Kwon’s door after losing $2.4 million in Terra Crash
A crypto investor has been arrested after knocking on Do Kwon’s door after the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST). He lost about $2.4 million and is now under investigation by the South Korean police. “I felt like I was going to die,” he said of losing his investment.
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New Terra Network Comes with Power from Major Exchanges, LUNA and UST Holders Eligible for Airdrop Tokens
According to a recent announcement from the Terra Blockchain team, the community voted and approved a proposal that plans to launch a new version of the Terra blockchain without a stable algorithm. The governance proposal called “Terra Ecosystem Revival Plan 2” has been revised and the final version of the new Terra Core database has been released to prepare for the new network.
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Billionaire Ray Dalio Speaks in Davos – Says Blockchain Is Great, But Let’s Call It Digital Gold
This week the world was talking about the meeting of the World Economic Forum (WEF) in Davos, Switzerland, which began on May 22 and ends on May 26. At the event, Bridgewater Associates founder Ray Dalio spoke about today’s economy, the Federal Reserve, cash and cryptocurrency. Dalio noted at the WEF conference that he thinks blockchain is great, but said, “Let’s call it digital gold.”
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Billionaire investor Bill Ackman says unless the Fed raises interest rates aggressively, the stock market could crash, “spurring an economic meltdown”
Billionaire hedge fund manager and founder of Pershing Square Capital Management, Bill Ackman, believes that “inflation is out of control.” The investor believes that if the Fed “does not do its job” by implementing “strong monetary tightening”, the US economy could collapse.
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What are your thoughts on this week’s top cryptocurrency stories from Bitcoin.com News? Let us know in the comments section below.
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