Terra Supporters Hope to ‘Defy the Odds’ by Pumping the Now-Defunct Stablecoin USTC Back to $1 Parity – Altcoins Bitcoin News

It’s been six months since Terra’s algorithmic stablecoin UST (now USTC) depegged from the U.S. dollar and the price has remained depegged from the greenback since May 9, 2022. Currently, the former stablecoin is exchanging hands for $0.02 per unit, but a number of Terra Classic supporters believe there’s a chance USTC can regain its peg. Terra Supporters Want to Repeg the Once-Stable Coin USTC Amid the craziness surrounding the FTX collapse, fans of another stunted crypto project want to get Terra Money’s former stablecoin UST (now USTC) back to…

Co-Owner of Now-Defunct Crypto Exchange BitMarket Found Dead

Tobiasz Niemiro, co-owner of now-defunct Polish cryptocurrency exchange BitMarket, has been found dead, local public radio station Radio Olsztyn reported on July 25. The local police stated that Niemiro had been found dead with a wound in his skull near his residence in the city of Olsztyn. The exact circumstances of Niemiro’s death have not yet been established. Polish political and general news-focused newspaper Gazeta Wyborcza suggested that Niemiro committed suicide. The authorities are ostensibly still working on determining the exact circumstances of Niemiro’s death. BitMarket suffered from lack of…

Co-Founder of Now-Defunct BitFunder Gets 14 Months Imprisonment

The operator of now-defunct Bitcoin (BTC) exchange BitFunder, Jon Montroll, has received a 14 months prison sentence following federal charges of obstruction of justice and securities fraud, finance and trading industry news outlet FinanceFeeds reported on July 12. The proceedings against Montroll began last year. In July 2018, Montroll pleaded guilty to obstruction of justice, admitting that he provided false balance statements to the United States Securities and Exchange Commission in an investigation of the fake 6,000 BTC BitFunder hack in 2013. The proceedings against Montroll ended on July 11,…

New Ernst & Young Report Reveals Assets and Debts of Now-Defunct QuadrigaCX

A new report from Big Four audit firm Ernst & Young (EY) outlines the assets and debts of  major Canadian crypto exchange QuadrigaCX and its subsidiaries. The report was released on EY site on May 9. EY — a monitor to the creditor proceedings of now-defunct QuadrigaCX — has published a trustee’s preliminary report revealing that Quadriga has around $20.8 million in assets, and around $160 million in liabilities as of April 12, 2019. The debt and assets are spread between three subsidiary companies; 0984750 B.C. LTD. (the “Quadriga Estate”),…

Police Arrest Alleged India Head of Now-Defunct Bitconnect Scam

Indian police have arrested a man who was allegedly involved in promoting the Bitconnect investment scam, Financial Express reported August 18. The suspect, Divyesh Darji, is said to have been the India head of Bitconnect, the high-yield investment program that ceased its operations in January 2018 after coming under scrutiny for appearing to be a fraudulent Ponzi scheme. Darji, a resident of Surat city, had reportedly already been issued with a look-out circular and was arrested August 18 in Delhi airport, after a tip-off from local immigration services. Financial Express…