Tag: terra
The Rally Point: Terra Invicta is too much for one article, and possibly one lifetime
I pity anyone who has to review, or god help them, write a guide for Terra Invicta, because doing it even semi-comprehensively would take longer than I expect to live.
This is a hugely ambitious game, covering something I’ve never seen before, with a scope that makes Europa Universalis seem limited. It is a complicated, huge, and ponderous alien invasion simulator that constantly threatens to drop the other boot on you the entire time. Anything you do could be the butterfly whose little wingflaps eventually result in the obliteration of the planet. It is not a game to be powered through, but to be played and contemplated exclusively for a solid month.
That is its central weakness. But I think it had to be this way. Its commitment to an idea is demanding, but if you can tolerate some issues with clarity and presentation, the payoff for meeting it is utterly unique.
Terra Invicta beginner’s guide: Five things to know before getting started
Crypto News: Chainlink, Terra, GBP Collapse, CBDCs & MORE!
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Terra Invicta Early Access Review
Interpol issues ‘red notice’ for Terra stablecoin co-founder Do Kwon
Do Kwon, a co-founder of Terraform Labs, has insisted that he’s not on the run after the collapse of the TerraUSD stablecoin, but Interpol is apparently under the impression he’s a fugitive. According to South Korean publication Yonhap and The New York Times, South Korean prosecutors said that Interpol has issued a “red notice” asking for help from worldwide law enforcement to find and arrest Kwon.
Interpol:
Red Notices are issued for fugitives wanted either for prosecution or to serve a sentence. A Red Notice is a request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action.
Earlier this month, South Korea issued a warrant for the arrest of Kwon and five other…
Terra founder Do Kwon officially an internationally wanted man as Interpol issues ‘Red Notice’ for his arrest
The search for Do Kwon has just been taken to the next level.
Interpol has just officially issued a “Red Notice” for the co-founder of the failed stablecoin Terra and Luna cryptocurrency. This means that Do Kwon is now an international fugitive, being sought out by law enforcement across the globe.
According to Interpol’s website, Red Notices are “requests to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action.”
A South Korean court issued its own arrest warrant two weeks ago for Do Kwon, alleging that the cryptocurrency mogul was violating capital markets law. The failure of Do Kwon’s stablecoin Terra and its sister token Luna helped create the domino effect that led to this year’s major cryptocurrency crash. Crypto’s plunge further continued as major crypto lending firms became insolvent due to investment in Terra.
When the arrest warrant was issued, South Korean prosecutors believed Do Kwon was in Singapore. However, Singaporean authorities say the Terra creator is no longer in the country.
Do Kwon later announced on Twitter that he was “not on the run” and was in “full cooperation” with the relevant government agencies. However, prosecutors in South Korea quickly disputed the claim and said Do Kwon was “obviously on the run.”
While Do Kwon may be able to avoid authorities in South Korea, Interpol’s “Red Notice” makes him a wanted man wherever he goes. On the flip side, his re-launched cryptocurrency endeavor Terra 2.0 seems unfazed by Do Kwon’s status as a fugitive. In fact, the cryptocurrency has actually spiked in value by more than 10 percent, seemingly as the news was breaking.
Crypto News: ETH Crash, SEC, Do Kwon, Terra, CPI & MORE!
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Arrest warrant issued for Do Kwon, creator of failed stablecoin Terra
The creator of the failed stablecoin that kicked off crypto winter is now a wanted man.
On Wednesday, a South Korean court issued an arrest warrant for Do Kwon, the co-founder of cryptocurrency company Terraform Labs, for allegedly violating capital markets law. According to Bloomberg, the arrest warrant includes five other individuals.
In May, Do Kwon’s algorithmic stablecoin Terra (UST) set off a domino effect that crashed the cryptocurrency market. UST, which is supposed to always be valued at $1 USD, fell from that pegged amount. Terra, at the time, was one of the biggest stablecoins in crypto with an $18 billion market capitalization. Many crypto users place their funds in stablecoins like Terra, due to their supposedly stable one-to-one valuation alongside the US dollar, unlike other risky cryptocurrencies that greatly fluctuate in value.
After crashing the crypto market, Terra returns with Luna 2.0. It’s already tanking again.
Attempts to correct the Terra valuation and peg it back to $1 fell short and UST’s value continued to tank until it became worth only pennies. Terra’s “sister” cryptocurrency, LUNA, which was once valued at more than $100 just earlier this year, quickly fell in price too, becoming essentially worthless at less than a penny per token. It didn’t take long for the reverberations to be felt across the crypto markets with most tokens taking a big hit in the following months. Crypto lending firms like Celsius and crypto hedge funds like Three Arrows Capital would soon face liquidity problems and, in some cases, bankruptcy as a result of the Terra/Luna crash.
Do Kwon, in an attempt to course correct, soon re-launched Luna, but that attempt failed too. The crypto founder, who would regularly tweet and talk to crypto press, has been fairly silent on the issue since.
According to Bloomberg, Do Kwon’s partner, Terraform Labs co-founder Daniel Shin, was raided by prosecutors back in July as part of an investigation into the alleged violations. All six people named in the warrant, including Do Kwon, are currently located in Singapore. According to The Financial Times, authorities are seeking international cooperation in an effort to extradite Do Kwon, though the two countries do not have a bilateral extradition treaty.
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