Crypto News, May 13: Terra Blockchain Halted, LUNA and UST Delisted, SBF Buys Stake in Robinhood

Crypto News, May 13: Terra Blockchain Halted, LUNA and UST Delisted, SBF Buys Stake in Robinhood

6 months ago

The Terra Foundation halted its blockchain, LUNA and UST tokens were delisted on major exchanges. Meanwhile, SBF bought 7.6% of Robinhood and a former crypto queen is wanted by Europol.

Crypto News, May 13: Terra Blockchain Halted, LUNA and UST Delisted, SBF Buys Stake in Robinhood

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Terra Halts Its Blockchain, Binance Suspends LUNA Trading 🆘

The Terra Foundation halted its blockchain to give the network time to work out a possible solution that can save the ecosystem’s existence. Meanwhile, Binance delisted its LUNA and UST tokens, although other exchanges continue to allow trading. When and if Terra will be brought back online remains unknown.

Crypto Markets Bounce, Provide Temporary Relief 📈

Bitcoin led a rally in crypto valuations and bounced back above $30,000. Ether followed its lead and is trading back above $2,000, while several altcoins booked serious gains of up to 30% in the last 24 hours. However, analysts think the relief rally may turn out to be only temporary.

FTX CEO Acquires 7.6% of Robinhood Stock 🧾

According to a filing at the SEC, Sam Bankman-Fried acquired a stake in the trading platform Robinhood. The FTX CEO purchased 7.6% of the company’s stock but reportedly has no plans to get involved in the day-to-day operations of Robinhood. The purchase reversed the stock’s downtrend, which has been sliding since its IPO last July.

Musk Puts Twitter Acquisition Temporarily on Hold

Elon Musk tweeted that his acquisition of Twitter is temporarily on hold, while he awaits data on the number of spambots on Twitter. The Tesla CEO vowed to combat spam on Twitter but has been facing headwinds and unexpected difficulties in his acquisition of the company. Twitter’s stock slumped in pre-hours trading following the news.

Former "Crypto Queen" Put on Most Wanted List 🕵️‍♂️

Ruja Ignatova, the former CEO of the infamous crypto scam OneCoin, is wanted by Europol. The prosecutors issued a warrant for Ignatova, who was last seen in October 2017. While her brother and accomplices await trials in the United States, Ignatova’s whereabouts remain unknown.
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