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. Here’s 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
A crypto investor has been arrested after knocking on Do Kwon’s door following the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST). The South Korean police are now investigating the case. He is believed to have lost $2.4 million. “I felt like I was going to die,” he said about losing his investments.
Learn More
New Terra Network is Coming with support from major exchanges, LUNA holders and UST holders eligible for airdropped tokens
A recent announcement by the Terra Blockchain team states that the Terra community has voted for and approved a proposal to create a new Terra genesis version without an algorithmic stabilizecoin. 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.
Learn More
Billionaire Ray Dalio Speaks in Davos — Says ‘Blockchain Is Great, but Let’s Call It Digital Gold’
World Economic Forum (WEF), a meeting held in Davos Switzerland on May 22, and ending on May 26, has been the talk of the entire world. 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.”
Learn More
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.
Learn More
What are your thoughts on this week’s hottest crypto stories from Bitcoin.com News? Please leave your comments below.
Images CreditsShutterstock. Pixabay. Wiki Commons
DisclaimerThis information is provided for educational purposes only. This article is not intended to be a solicitation or offer to sell or buy any product, service, or company. Bitcoin.com doesn’t offer investment, tax or legal advice. This article does not contain any information, products, or advice that can be used to cause or alleged result in any kind of damage.