Business

What can other algorithmic stablecoins learn from Terra’s crash?

[ad_1] The spectacular implosion of the Terra ecosystem in mid-May left the crypto industry scarred. Though there were some brave critics who understood just how thin the razor’s edge was for TerraUSD (UST) — now TerraUSD Classic (USTC) — I think it’s safe to say that most people didn’t expect Terra to fail so fast, so dramatically and so completely irrevocably.[embed]https://www.youtube.com/watch?v=8dzMOuEjFIY[/embed]I’m writing this as the Terra community is voting on
Business

Do Kwon dismisses allegation of cashing out $2.7B from Terra (LUNA), UST

[ad_1] Do Kwon, the CEO and co-founder of the infamous Terra (LUNA) and TerraUSD (UST) ecosystems, refuted the claims of cashing out $80 million every month for nearly three years. Numerous unconfirmed reports surfaced on June 11, claiming Kwon’s participation in draining liquidity out of LUNA and UST before the crash to purchase US dollar-pegged stablecoin such as Tether (USDT).Rumors about Kwon cashing out LUNA and UST reserves surfaced after a