Do Kwon’s Approach To Terra 2.0 Listing Gets Rejected By S.Korean Crypto Exchange! Here Is Why

The post Do Kwon’s Approach To Terra 2.0 Listing Gets Rejected By S.Korean Crypto Exchange! Here Is Why appeared first on Coinpedia — Fintech & Cryptocurreny News Media| Crypto Guide

Do Kwon, the founder of Terra, is apparently having trouble getting Terra 2.0 listed on South Korea’s leading exchanges.

Upbit, Coinone, Cobit, Bithumb, and Gopax are among the top five South Korean exchanges that Do Kwon has approached according to reports. The coin will be released as part of a widely-accepted restoration plan that will see the Terra blockchain relaunched this week.

South Korean Exchanges Step Aback

Apart from Upbit, four of the exchanges appear to be separating themselves from Terra, according to a Heraldcorp story from South Korea. This distance shown by Coinone, Cobit, Bithumb and Gopax to list Terra 2.0 is based on the fact that the Korean government is presently investigating Kwon and his business Terraform Labs (TFL).

According to the exchanges, Do Kwon should approach the listing through official listing channels.

The exchanges have informed Heraldcorp, Korean media, that they are afraid to offer the token due to suspicions of theft by TFL and an ongoing police investigation.

Following Terra’s meltdown, most crypto exchanges across the world delisted LUNA and the stablecoin UST. However, traders continued to pile into LUNA in the hopes that it would regain at least part of its value. So far, it hasn’t happened.

Despite this, South Korean exchanges are attracting regulatory scrutiny for failing to delist or halt LUNA trades quickly enough.

Upbit Comes Forward For Listing

However, if the airdrop is successful, Upbit, South Korea’s largest exchange, is willing to offer the new Terra coin.

This is because Upbit believes that the airdrop would benefit Terra holders; an Upbit spokesman informed Heraldcorp that the exchange will enable trade of the new LUNA.

The airdrop of fresh LUNA tokens will primarily target LUNA holders prior to the crash, with early liquidity aimed towards small holders.

Terra 2.0 appears to be supported by other exchanges as well. The new cryptocurrency will be supported by HitBTC, according to a tweet.

Dear Traders,@terra_money’s new chain token (LUNA) will be available on HitBTC on May 27th, 2022.

The old chain will be renamed to Terra Classic (LUNC).

Learn more:

Please support by sharing this post. Also, support us on and on

Read More..
Source: #Coinpediaorg





Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Best stock market apps that make trading a cake walk

Earnings through NFT myth or reality?

ZeroHybrid Partners with AnySwap


AIOS :- Best Rewarding / Marketing Center Place/ BlockChain Platform

Tagion and the Filecoin Meltdown

TOP 5 Cryptos Last Week

WPR tokens — green energy from “WePower” without intermediaries!

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store

More from Medium


#5: Digital Assets & Access To Money

Introducing BTC Proxy — A Revolutionary Bitcoin Bridge for the Crypto Community, Where you can do…

Vechain (VET) Price To Plung $0.40 By End Of 2022, Says Famous Analyst