Twitter Thread Shows The Dark Side Of Terra Collapse
The Terra collapse is now four months gone, and things continue to develop around the why. Mostly, the attention has been on founder Do Kwon and others who were involved in the running and eventual downfall of the network. But one set of people that have not been put at the forefront were the people […]
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Terra took quite a beating as the Ethereum creator and CEO of Binance criticized Terra and UST token via Twitter. Following the collapse of UST, Terra’s stablecoin and LUNA, its native token, many crypto advocates have aired their sentiments on the subject. Vitalik Buterin and Changpeng “CZ” Zhao are among those who are not keeping […]
It’s time to listen to the other side. Fat Man Terra used to be a cog in the Terra machine, but nowadays he’s the protocol’s biggest critic. He’s also a researcher, and his investigation lead him to believe that Terra was a scam from the very beginning. Of course, Laura Shin’s Do Kwon interview rubbed Fat Man Terra the wrong way. So, exercising his right to reply, he went to the same platform and told his side of the story. If what Fat Man Terra says is true, the Terra/ Luna story is a horror film. A court will probably decide if he’s right or wrong, though. Let’s explore his allegations,....
The collapse of the algorithmic stablecoin Terra and its native token, LUNA, created a great storm in the cryptocurrency space. Many investors watched as the Terra ecosystem crumbled with TerraUSD (UST) and LUNA hitting the zeros. The storm and its effects brought reckless distortions for almost all the tokens in the crypto market. Coupled with […]
The world’s largest asset manager, Blackrock, and hedge fund giant Citadel Securities have denied claims that they had a role in the fall of terrausd (UST) and terra (LUNA). In addition, crypto exchange Gemini has denied making a bitcoin loan that resulted in the terra collapse. Blackrock, Citadel Securities, Gemini Deny Rumors Following the collapse of terra (LUNA) after algorithmic stablecoin terrausd (UST) lost its peg to the U.S. dollar this week, rumors have been circulating that Blackrock, Citadel Securities, and Gemini had some part in the fall. The three companies quickly....
The rumor surfaced after a Twitter thread by @FatManTerra shared the alleged details on how Kwon, along with Terra influencers, managed to drain funds while artificially maintaining the liquidity. 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....