Spot trading for LUNA/BUSD and UST/BUSD will resume at 2:30pm UTC, May 13 2022.

Was in a no-phone meeting for 2hrs. At least, there is progress. Luna blockchain resumed, no more minting. And deposits, withdrawals and trading resumed. Trading is important for existing holders. Please do NOT buy a coin just because trading is on. DYOR! EXTREME caution!

Many people don't get this point. If we didn't push the issue, the Terra blockchain may still be in "halted" mode, or worse with super minting...

You can't mint your way out of bankruptcy all the time.

6 million reasons to thank you for all your support. 🙏🙏🙏🙏🙏🙏 120 million reasons the fight for the safety of our users. 🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏 mobile.twitter.com/cz_binance/sta…

The design flaw: minting coins (printing money) does not create value, it just dilutes the existing coin holders. Incentives doesn’t create value. It is just a bootstrap mechanism. Build products people use.

1/8 These past weeks have proven to be a watershed moment for the crypto industry. We have witnessed the rapid decline of a major project, which sent ripples across the industry, but also a new found resiliency in the market that did not exist during the last market downswing.

2/ First, I need to address falsehoods circulating in crypto twitter.

3/ Binance did not participate in the 2nd round of Luna’s fund raising nor did we acquire any UST. Binance Labs invested $3m USD in Terra (the layer 0 blockchain) in 2018. UST came much later after our initial investment.

4/ Binance Labs invested in hundreds of projects over the last 4 years, including exchange “competitors” and many “competing” blockchains. A few of them have fallen by the wayside, but a few have been extremely successful. That’s how investments work.

5/ The last few days, we tried hard to support the Terra community. In my tweets, I am simply pointing out the potential issues from my understanding. Minting, forking, don’t create value. Buying back, burning does, but requires funds. Funds that the project team may not have.

6/ In this regard, I would like to see more transparency from them. Much more! Including specific on-chain transactions (txids) of all the funds. Relying on 3rd party analysis is not sufficient or accurate. This is the first thing that should have happened.

7/ I am not always right, but my perspective is: Failures can/will happen. But when they do, transparency, speedy communication and owning responsibility to the community is extremely important.

8/ I am just hoping that the project teams can rise from the ashes and rebuild in a proper and sensible way. Regardless of my personal views, or the solution chosen in the end, we will always be here to support the community in any way we can.

#TerraIsMoreThanUST

1/ Terra governance prop #1623 to rename the existing network Terra Classic, LUNA Classic ($LUNC), and rebirth a new Terra blockchain & LUNA ($LUNA) is now live. Vote here: station.terra.money/proposal/1623

Coin Listed  @Execulive_ Roncin Antoine AlgoMoneyfest FatMan Crypto Thespian @jackdx16 Sarah Parker ( Beware scammers ) Greg Osuri 🇺🇸 Coinbase 🛡️ Validator instructions are in the “technical details” section of the proposal, and the release will be cut v soon

Only hold beliefs that will stay constant at 5 digits or 1

Be the change you want to see The last month for crypto has lessons that will power the rise of the next gen of builders to great heights

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