Crypto Week 20 — Luna, Solana, PolkaDot, Tether

The Good. The Bad. The Ugly.

CEO dissolved Terra Labs Korea days before the crash

The South Korea supreme court registry office have stated that Terraform Labs Korea decided to dissolve its Busan headquarters and Seoul branch at the general shareholders meeting on April 30. Furthermore, the company named CEO Do Kwon, as the liquidator.

The reason behind the liquidation is currently unknown, but does raise several questions.

Terra Labs to “revive” LUNA by forking the chain

In case you somehow missed it, LUNA has fallen 99.9999% as a result of its stablecoin UST depegging following an arbitrage exploit.

Terra Labs along with their CEO — Do Kwon — have been formulated an official proposal to be voted on by the validators.

Highlights of the proposal:

1,000,000,000 LUNA to be distributed as follows:

• Community pool: 25%