Desperate LUNA Investors Arrested, New Terra Network Announced, Davos Blockchain Talk & More — Bitcoin.com News Week in Review — Weekly Bitcoin News

From desperate investors’ ill-advised visit to Terra co-founder Do Kwon’s home leading to the arrest, announcing the new Terra network, and discussing blockchain at Davos, to predictions that the U.S. economy will collapse if inflation isn’t brought under control quickly, There was no shortage of action-packed crypto stories last week. Without further ado, here is the Bitcoin.com News Week recap.

LUNA investor arrested for knocking on Do Kwon's door after losing $2.4 million in Terra Crash

LUNA investor arrested for knocking on Do Kwon’s door after losing $2.4 million in Terra Crash

A cryptocurrency investor has been arrested after knocking on Do Kwon’s door after the collapse of the cryptocurrency terra (LUNA) and stablecoin terrausd (UST). He lost about $2.4 million and is currently under investigation by South Korean police. “I feel like I’m dying,” he said of losing his investment.

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A new Terra network is being supported by major exchanges, LUNA and UST holders who are eligible for airdropped tokens

A new Terra network is being supported by major exchanges, LUNA and UST holders who are eligible for airdropped tokens

According to a recent announcement by the Terra Blockchain team, the community voted and approved a proposal to launch a new Terra Blockchain genesis version without an algorithmic stablecoin. The governance proposal called “Terra Ecosystem Revival Plan 2” has been revised and the final version of the new Terra Core codebase has been released in preparation for the new network.

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Billionaire Ray Dalio speaks at Davos - says 'blockchain is great, but we call it digital gold'

Billionaire Ray Dalio speaks at Davos – says ‘blockchain is great, but we call it digital gold’

This week, the world has been talking about the World Economic Forum (WEF) meeting in Davos, Switzerland, which begins on May 22 and ends on May 26. At the event, Bridgewater founder Ray Dalio spoke about today’s economy, the Fed, cash and cryptocurrencies. Dalio noted at the WEF conference that he thinks blockchain is great, but said “let’s call it digital gold.”

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Billionaire investor Bill Ackerman says stock market could collapse unless Fed aggressively raises rates, ‘catalyzing economic collapse’

Bill Ackman, a billionaire hedge fund manager and founder of Pershing Square Capital Management, believes “inflation is out of control.” Investors believe the U.S. economy could collapse if the Federal Reserve “doesn’t do its job” with “aggressive monetary tightening.”

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tags in this story

arrest, Bill Ackerman, blockchain, Davos, digital gold, do right, economic collapse, Fed, inflation, investor, Luna, network, Pershing Square Capital Management, Ray Dalio, the earth, American University of Science and Technology, week in review, World Economic Forum

What are your thoughts on the top crypto stories from Bitcoin.com news this week? Let us know in the comments section below.

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