Sam

Kessler

Sam  Kessler

Sam is a reporter at CoinDesk focused on technology, DeFi and DAOs. He formerly led the Harvard Political Review and has a background in computer science and the technology industry. Sam owns ETH, BTC and MATIC.

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CoinDesk - Unknown
Kwon Proposes Forking Terra, Nixing UST Stablecoin in ‘Revival Plan 2’

“$UST peg failure is Terra’s DAO hack moment,” the Terraform Labs CEO wrote, “a chance to rise up anew from the ashes.”

“$UST peg failure is Terra’s DAO hack moment,” the Terraform Labs CEO wrote, “a chance to rise up anew from the ashes.”

CoinDesk - Unknown
CoinDesk - Unknown
First Mover Americas: May Brings Showers Not Flowers as Bitcoin Languishes in Terra Aftermath

The latest moves in crypto markets in context for May 16, 2022.

The latest moves in crypto markets in context for May 16, 2022.

CoinDesk - Unknown
CoinDesk - Unknown
LFG Reserves Dwindle to Just 313 Bitcoins From 80K After UST Crash

The announcement comes after criticism of the Luna Foundation Guard's "lack of transparency."

The announcement comes after criticism of the Luna Foundation Guard's "lack of transparency."

CoinDesk - Unknown
CoinDesk - Unknown
Do Kwon’s Proposed Terra ‘Revival’ Puts UST, LUNA Holders in Charge

A “Revival Plan” submitted Friday by the Terraform Labs CEO would redistribute ownership of the network.

A “Revival Plan” submitted Friday by the Terraform Labs CEO would redistribute ownership of the network.

CoinDesk - Unknown
CoinDesk - Unknown
The LUNA and UST Crash Explained in 5 Charts

One of the earliest signs that things were going wrong for Terra came when UST deposits on Anchor started dropping Saturday.

One of the earliest signs that things were going wrong for Terra came when UST deposits on Anchor started dropping Saturday.

CoinDesk - Unknown
CoinDesk - Unknown
UST’s Do Kwon Was Behind Earlier Failed Stablecoin, Ex-Terra Colleagues Say

Basis Cash, an algorithmic stablecoin project founded by the anonymous “Rick” and “Morty” in 2020, was actually the work of Terraform Labs employees.

Basis Cash, an algorithmic stablecoin project founded by the anonymous “Rick” and “Morty” in 2020, was actually the work of Terraform Labs employees.

CoinDesk - Unknown
CoinDesk - Unknown
UST Backer LFG Seeks $1B to Shore Up Stablecoin Peg: Report

The funding is needed because the dollar-pegged stablecoin dropped as low as 60 cents Monday amid broader market turmoil.

The funding is needed because the dollar-pegged stablecoin dropped as low as 60 cents Monday amid broader market turmoil.

CoinDesk - Unknown
CoinDesk - Unknown
UST Stablecoin Veers Wildly From Dollar Peg. Here's the Latest

By tapping into its bitcoin reserves, UST’s salvation may have exacerbated a bitcoin sell-off that brought BTC to its lowest price since July 2021.

By tapping into its bitcoin reserves, UST’s salvation may have exacerbated a bitcoin sell-off that brought BTC to its lowest price since July 2021.

CoinDesk - Unknown
CoinDesk - Unknown
UST Stablecoin Loses Dollar Peg for Second Time in 48 Hours, LUNA Market Cap Falls Below UST's

The development comes after the Luna Foundation Guard announced that its massive bitcoin reserves will be used to defend UST’s dollar peg.

The development comes after the Luna Foundation Guard announced that its massive bitcoin reserves will be used to defend UST’s dollar peg.

CoinDesk - Unknown