The crypto community saw how users from all over the world barked on Twitter about the crash of Terraform Labs last week. But what if we take a look at what specialized analysts have to say about it?
Financial commentator Frances Coppola is convinced that algorithmic stablecoins such as TerraUSD will always be vulnerable to sudden collapses, no matter how much the technology improves.
Terra’s UST stablecoin, which relied on an algorithm to maintain a peg to the U.S. dollar, collapsed last week, sparking turmoil in the crypto markets. As McGlone pointed out, Tether already depegged briefly in April 2019 when the New York state attorney general filed a lawsuit against its sister company, Bitfinex.Coppola, on the other hand, pointed out that while investors were redeeming Tether en mass amid Terra’s collapse, other stablecoins such as USD Coin and Binance USD performed as safe-haven assets, thus proving to be more trusted.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Almost 100% of Luna Users Are Denying Terra Co-Founder's PlanICYMI: only 8% of $LUNA users somewhat agree with Do Kwon's Terra revival plan LUNA $UST
Leer más »
Paul Brody on the Rise and Fall of Terra Luna, Blockchain Use Cases and MoreErnst & Young's (EY) Paul Brody shares insights into the collapse of Terra's UST and LUNA, discussing the importance of investing in protocols with 'institutional maturity.' Plus, EY has unveiled its supply chain manager built for the Polygon network aimed at solving bottlenecks in product traceability.
Leer más »
'Grim Reapers' financial crimes unit revived to investigate Terra collapseThe South Korean government has reformed its toughest financial investigation team and sent them after Do Kwon and Terraform Labs. Investors in the project are also launching criminal and civil suits against Kwon.
Leer más »
Pantera Capital cashed out 80% of its Terra investment before UST crashPantera Capital, one of the high-profile backers of Terraform Labs, cashed out 80% of its investment well before UST's collapse last week.
Leer más »
Electrify America Partners With Terra-Gen For 75 MW Of Renewable EnergyElectrify America and Terra-Gen have entered into a new partnership to build a large solar power plant in California.
Leer más »
Early polling from Terra vote indicates 91% are in favor of 'rebirth'Will we see the Terra LUNA V2 fork coming soon? While voting is still open, early polls show that 91% of participants would be in favor of the new blockchain.
Leer más »