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TerraUSD
Terra is a blockchain protocol and payment platform used for algorithmic stablecoins. The project was created in 2018 by Terraform Labs, a startup co-founded by Do Kwon and Daniel Shin. It is most known for its Terra stablecoin and the associated Luna reserve asset cryptocurrency. In May 2022, the Terra blockchain was temporarily halted after the collapse of the stablecoin TerraUSD (UST) and Luna, in an event that wiped out almost $45billion in market capitalisation within a week. Design Terra is a blockchain that leverages fiat-pegged stablecoins to power a payment system. For consensus the Terra blockchain uses a proof-of-stake codesign. Several stablecoins are built atop the Terra protocol, including TerraUSD, which was the third largest stablecoin by market capitalisation before its collapse in May 2022. The Terra blockchain has a fully functional ecosystem of Dapps such as Anchor, Mirror, and Pylon which has utilised the stable-coin infrastructure of Terra. Terra is a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Do Kwon
Kwon Do-Hyung (), more commonly known as Do Kwon, is the South Korean co-founder and CEO of Singapore-based Terraform Labs, the parent company of crashed stablecoin TerraUSD and cryptocurrency Luna. TerraUSD and Luna collapsed in May 2022, wiping out almost $45 billion market capitalization in one week and causing hundreds of billions in losses in the larger crypto market. Kwon faces legal and social pressure regarding his role in the Terra crash. Citizens from various jurisdictions — including South Korea, Singapore, and the United States — are taking legal action against Kwon. Education and early career According to his tweet on 6 September 2021, Do Kwon was born in Seoul, South Korea, on that same day in 1991. He attended high school at Daewon Foreign Language High School in South Korea. After receiving his BS in computer science in 2015 at Stanford University, he transitioned to work briefly as a software engineer for both Microsoft and Apple. In January 2016, Kwon r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Algorithmic Stablecoin
Stablecoins are cryptocurrencies where the price is supposed to be pegged to a reference asset, which is either fiat money, exchange-traded commodities (such as precious metals or industrial metals), or another cryptocurrency. In theory, the peg would make stablecoins "stable" and not subject to changes in value; however, in practice, stablecoins have been proven time and time again to lack stability, and many stablecoins have plummeted in value as the ponzi scheme they are tied to crashes. Background Stablecoins have a number of purported purposes. They can theoretically be used for payments, and are in theory more likely to retain their value than cryptocurrencies such as Bitcoin and altcoins, which are highly volatile. Of course, in practice, many stablecoins have also failed to retain their value, plummeting to zero along other altcoins. Stablecoins are typically non-interest bearing, and therefore do not provide any benefits to the holder. Reserve-backed stablecoins R ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stablecoin
Stablecoins are cryptocurrencies where the price is supposed to be pegged to a reference asset, which is either fiat money, exchange-traded commodities (such as precious metals or industrial metals), or another cryptocurrency. In theory, the peg would make stablecoins "stable" and not subject to changes in value; however, in practice, stablecoins have been proven time and time again to lack stability, and many stablecoins have plummeted in value as the ponzi scheme they are tied to crashes. Background Stablecoins have a number of purported purposes. They can theoretically be used for payments, and are in theory more likely to retain their value than cryptocurrencies such as Bitcoin and altcoins, which are highly volatile. Of course, in practice, many stablecoins have also failed to retain their value, plummeting to zero along other altcoins. Stablecoins are typically non-interest bearing, and therefore do not provide any benefits to the holder. Reserve-backed stablecoins R ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ponzi Scheme
A Ponzi scheme (, ) is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. Named after Italian businessman Charles Ponzi, the scheme leads victims to believe that profits are coming from legitimate business activity (e.g., product sales or successful investments), and they remain unaware that other investors are the source of funds. A Ponzi scheme can maintain the illusion of a sustainable business as long as new investors contribute new funds, and as long as most of the investors do not demand full repayment and still believe in the non-existent assets they are purported to own. Some of the first recorded incidents to meet the modern definition of the Ponzi scheme were carried out from 1869 to 1872 by Adele Spitzeder in Germany and by Sarah Howe in the United States in the 1880s through the "Ladies' Deposit". Howe offered a solely female clientele an 8% monthly interest rate and then stole the money that the women ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bitcoin
Bitcoin ( abbreviation: BTC; sign: ₿) is a decentralized digital currency that can be transferred on the peer-to-peer bitcoin network. Bitcoin transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. The cryptocurrency was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. The currency began use in 2009, when its implementation was released as open-source software. The word "''bitcoin''" was defined in a white paper published on October 31, 2008. It is a compound of the words ''bit'' and ''coin''. The legality of bitcoin varies by region. Nine countries have fully banned bitcoin use, while a further fifteen have implicitly banned it. A few governments have used bitcoin in some capacity. El Salvador has adopted Bitcoin as legal tender, although use by merchants remains low. Ukraine has accepted cryptocurrency donations to fund the resistance to the 2022 Russ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Galaxy Digital
Galaxy Digital was a radio station broadcasting through the digital platform across the United Kingdom and was owned by Global Radio. It primarily broadcast in areas where Galaxy was not represented on FM, such as London, Leicester, Nottingham, and Derbyshire. It also formerly broadcast in Central Scotland, until the relaunch of Xfm Scotland as Galaxy Scotland, at which point Galaxy Digital on DAB was replaced with a relay of Xfm London. The digital station was a 'sister' radio station to the local Galaxy Network services in various areas. The digital service was broadcast largely from the Galaxy Yorkshire studios, and much of the content networked across the group came from this location. Since Monday 21 January 2008, Galaxy Digital was changed from its own dedicated service (albeit with mostly network content) to broadcast almost entirely as a direct relay of Galaxy Yorkshire, though the '' 'Across Yorkshire' '' on-air tagline was replaced by '' 'Across the UK' '' on the digi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lightspeed Venture Partners
Lightspeed Venture Partners is a global venture capital firm focusing on multi-stage investments in the enterprise, consumer, and health sectors. Lightspeed invests in seed, early and growth-stage companies. The company invests in the U.S. and abroad, with investment professionals and advisors in Silicon Valley, Israel, India, China, Europe, and Southeast Asia. Lightspeed has ten offices globally. History The firm was founded in October 2000 when investors from Weiss, Peck & Greer left to start Lightspeed following the sale of the investment management business to Robeco. Jeremy Liew joined the firm in 2006 as its first consumer tech-focused partner. For the next decade, Lightspeed Venture Partners largely remained an enterprise software and infrastructure specialist, investing in: Nimble Storage, Nutanix, MuleSoft, and AppDynamics. In 2012, Lightspeed became the first venture investor in Snap Inc., a year after Snapchat was launched. Snapchat raised $485,000 in its seed round ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The New York Times
''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid digital subscribers. It also is a producer of popular podcasts such as '' The Daily''. Founded in 1851 by Henry Jarvis Raymond and George Jones, it was initially published by Raymond, Jones & Company. The ''Times'' has won 132 Pulitzer Prizes, the most of any newspaper, and has long been regarded as a national " newspaper of record". For print it is ranked 18th in the world by circulation and 3rd in the U.S. The paper is owned by the New York Times Company, which is publicly traded. It has been governed by the Sulzberger family since 1896, through a dual-class share structure after its shares became publicly traded. A. G. Sulzberger, the paper's publisher and the company's chairman, is the fifth generation of the family to head the pa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Singapore
Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, bordering the Strait of Malacca to the west, the Singapore Strait to the south, the South China Sea to the east, and the Straits of Johor to the north. The country's territory is composed of one main island, 63 satellite islands and islets, and one outlying islet; the combined area of these has increased by 25% since the country's independence as a result of extensive land reclamation projects. It has the third highest population density in the world. With a multicultural population and recognising the need to respect cultural identities of the major ethnic groups within the nation, Singapore has four official languages: English, Malay, Mandarin, and Tamil. English is the lingua franca and numerous public services are available only in Eng ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Blockchain
A blockchain is a type of distributed ledger technology (DLT) that consists of growing lists of records, called ''blocks'', that are securely linked together using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree, where data nodes are represented by leaves). The timestamp proves that the transaction data existed when the block was created. Since each block contains information about the previous block, they effectively form a ''chain'' (compare linked list data structure), with each additional block linking to the ones before it. Consequently, blockchain transactions are irreversible in that, once they are recorded, the data in any given block cannot be altered retroactively without altering all subsequent blocks. Blockchains are typically managed by a peer-to-peer, peer-to-peer (P2P) computer network for use as a public distributed ledger, where nodes collectively adhere to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fortune (magazine)
''Fortune'' is an American multinational corporation, multinational business magazine headquartered in New York City. It is published by Fortune Media Group Holdings, owned by Thai businessman Chatchaval Jiaravanon. The publication was founded by Henry Luce in 1929. The magazine competes with ''Forbes'' and ''Bloomberg Businessweek'' in the national business magazine category and distinguishes itself with long, in-depth feature articles. The magazine regularly publishes ranked lists, including the Fortune 500, ''Fortune'' 500, a ranking of companies by revenue that it has published annually since 1955. The magazine is also known for its annual ''Fortune Investor's Guide''. History ''Fortune'' was founded by ''Time (magazine), Time'' magazine co-founder Henry Luce in 1929 as "the Ideal Super-Class Magazine", a "distinguished and de luxe" publication "vividly portraying, interpreting and recording the Industrial Civilization". Briton Hadden, Luce's business partner, was not enthu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coinbase
Coinbase Global, Inc., branded Coinbase, is an American publicly traded company that operates a cryptocurrency exchange platform. Coinbase is a distributed company; all employees operate via remote work and the company lacks a physical headquarters. It is the largest cryptocurrency exchange in the United States by trading volume. The company was founded in 2012 by Brian Armstrong and Fred Ehrsam. In May 2020, Coinbase announced it would shut its San Francisco, California headquarters and change operations to remote-first, part of a wave of several major tech companies closing headquarters in San Francisco in the wake of the COVID-19 pandemic. History 2012–2019: founding and early years Coinbase was founded in June 2012 by Brian Armstrong, a former Airbnb engineer. Armstrong enrolled in the Y Combinator startup incubator program and received a $150,000 cash infusion. Fred Ehrsam, a former Goldman Sachs trader, later joined as a co-founder after noticing Armstrong's posts o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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