Binance removed LUNA and UST tokens from the offer – does Terra end? Source: https://www.shutterstock.com/Furkan Cubuk Binance Exchange Director Changpeng Zhao today via the social network Twitter warned users of the exchange that Binance is withdrawing from its offer the cryptocurrency LUNA and stablecoin UST. Terra ends on Binance Stock Exchange In recent articles, we have briefed you on the case of the LUNA and UST cryptocurrencies, which have attracted media and regulators’ attention. The Terra Foundation has been attacked by large investors who have managed to exploit the network’s algorithm to drop the price of the LUNA token at $ 0 and destabilize the decentralized stablecoin UST. At the time of writing, the LUNA token is no longer available on Binance. Stablecoin UST has a price of 0.13 cents and the price continues to fall. Binance Exchange Director Changpeng Zhao informed the exchange’s clients today that LUNA and UST tokens will be removed from the cryptocurrency offer: “At #Binance, user protection is a priority for us. We have decided to suspend trading in LUNA and UST. “CEO Binance added the specific reasons why the exchange considered it necessary to stop trading in these cryptocurrencies:” An exponential number of new LUNA tokens were extracted due to errors in the Terra protocol design. Their validators suspended their entire network, with the result that it was not possible to deposit or withdraw them on any exchange or from it. Some of our users, unaware of the large number of new out-of-stock LUNAs, began buying LUNA cryptocurrency again, not realizing that once deposits were allowed, the price was likely to fall even further. Due to these significant risks, we have suspended trading. ”Buy and trade cryptocurrencies on Binance, the best and cheapest stock exchange in the world. In cooperation, we have prepared special discounts and a bonus of up to 50 USD! Create an account via >>> our link <<< and get a lifetime 5% discount on business fees. Instructions on how to easily and cheaply buy and trade cryptocurrencies can be found in this article. Read also: As an attacker could earn over 800 miles. $ attack on UST Terra will probably disappear No representative of the Terra Foundation has yet commented on the situation surrounding the withdrawal of LUNA and UST cryptocurrencies from the Binance stock exchange. The company's founder, Do Kwon, last spoke confidently about how they were working to stop the fall in UST prices. Since then, the UST has fallen even lower. Meanwhile, Coindesk reported that CEO Terry was responsible for the collapse of another project based on an algorithmic stablecoine. It was Basis Cash and, interestingly, Kwon acted anonymously in the project and never publicly admitted to the collapse of the project. There are more and more reports on the social network Twitter who have invested in LUNA cryptocurrencies, kept their pensions and savings in the Anchor Protocol. Some report millions in losses and the LUNA community is talking about suicide cases. To date, large institutions and funds have not commented on the collapse of both cryptocurrencies, which have invested millions in both cryptocurrencies in recent weeks. Read more: What to do when the market falls - 5 tips and psychological advice Do you like this article? We publish the latest information (not only) from the world of cryptocurrencies on a daily basis. Follow us on Facebook and don't miss the new articles.
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