News Heat Trend
Project Overview
Terra is an open-source blockchain hosting a vibrant ecosystem of decentralized applications (dApps) and top-tier developer tools. Terraform Labs is the developer of the Terra blockchain, which is designed to evolve into a new financial infrastructure for the next generation of decentralized apps.
Event-related news
Related news
Jane Street seeks dismissal of Terraform lawsuit, claiming attempt to shift blame
: Quantitative trading firm Jane Street has filed a motion with the court to dismiss the insider trading and market manipulation lawsuit filed by Terraform Labs, which accuses the firm of causing the collapse of the UST/LUNA algorithmic stablecoin.In its filing submitted to the U.S. District Court for the Southern District of New York, Jane Street stated that the lawsuit is "baseless" and represents an attempt by Terraform's bankruptcy estate to shift responsibility for the collapse of a multi-billion dollar ecosystem onto a third party.The firm has requested the court to dismiss the entire case "with prejudice," meaning the plaintiff cannot refile the same claims.Jane Street further pointed out that the fraudulent conduct associated with Terraform has already been prosecuted, adjudicated, and penalized, and that it was not involved. Do Kwon has previously pleaded guilty to conspiracy and wire fraud charges and is currently serving a 15-year sentence. A jury has also found Terraform and Kwon liable for securities fraud.
Dragonfly Partner: DeFi Evolves Through Failures, System Exhibits Resilience and Self-Healing Capabilities
Odaily News Dragonfly partner Haseeb Qureshi posted on X, stating that DeFi grows precisely through repeated failures. From the Terra collapse, the "Black Thursday" liquidation failures in 2020, to the stETH depegging event in 2022, the industry has faced repeated setbacks, yet it progresses with each correction. This process is no different from the development path of traditional finance, such as the 2008 financial crisis or the Savings and Loan Crisis in the 1980s, where systems were refined through crises.Haseeb emphasized that these failures are not fatal; the core of DeFi still possesses risk control and system resilience. For example, Aave, even when facing potential bad debts, has sufficient capital buffers to cope. He believes that the intense discussions surrounding improvement proposals are precisely the key mechanism driving the continuous evolution of DeFi, and reiterated his long-term optimism for DeFi and its community development.