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Desperate LUNA Investor Arrested, New Terra Network Announced, Davos Blockchain Talk, and More — Bitcoin.com News Week in Review – The Weekly Bitcoin News

by e-Naira Online News
May 29, 2022
in Crypto
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From a desperate investor’s ill-advised visit to Terra co-founder Do Kwon’s house resulting in an arrest, the announcement of a new Terra network, and blockchain talk at Davos, to predictions of U.S. economic collapse if inflation isn’t reigned in quickly, there’s no shortage of action-packed crypto stories this past week. Without further ado, this is the Bitcoin.com News Week in Review.

LUNA Investor Arrested for Knocking on Do Kwon's Door After Losing $2.4 Million in Terra Crash

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 following 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 about losing his investments.

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A New Terra Network Is Coming With Support From Major Exchanges, LUNA and UST Holders Eligible for Airdropped Tokens

A New Terra Network Is Coming With Support From Major Exchanges, LUNA and UST Holders Eligible for Airdropped Tokens

According to a recent announcement from the Terra blockchain team, the community voted and passed a proposal that plans to launch a new genesis version of the Terra blockchain without an algorithmic stablecoin. The governance proposal called “Terra Ecosystem Revival Plan 2” has been amended and the final release of the new Terra Core codebase 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 a Digital Gold'

Billionaire Ray Dalio Speaks in Davos — Says ‘Blockchain Is Great, but Let’s Call It Digital Gold’

This week the world has been talking about the World Economic Forum (WEF) meeting in Davos, Switzerland, which started 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 cryptocurrencies. Dalio noted at the WEF conference that he believes blockchain is great, but says “let’s call it a digital gold.”

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Billionaire Investor Bill Ackman Says Unless the Fed Aggressively Hikes Rates, Stock Market Could Crash, ‘Catalyzing an Economic Collapse’

Billionaire hedge fund manager and founder of Pershing Square Capital Management, Bill Ackman, believes “inflation is out of control.” The investor thinks that if the Federal Reserve “doesn’t do its job” by applying “aggressive monetary tightening,” the U.S. economy could collapse.

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Tags in this story
Arrest, Bill Ackman, Blockchain, Davos, digital gold, do kwon, economic collapse, Fed, inflation, Investor, LUNA, network, Pershing Square Capital Management, Ray Dalio, Terra, UST, Week in Review, WEF

What are your thoughts on this week’s hottest crypto stories from Bitcoin.com News? Let us know in the comments section below.

Bitcoin.com

Bitcoin.com is your premier source for everything Bitcoin-related. We can help you buy bitcoins and choose a bitcoin wallet. You can also read the latest news, or engage with the community on our Bitcoin Forum. Please keep in mind that this is a commercial website that lists wallets, exchanges and other Bitcoin-related companies.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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