The founder of Terra, Do Kwon, who was at the center of the LUNA collapse controversy said of his Terra stablecoin:
“I still believe that decentralized economies deserve decentralized money – but it is clear that $UST in its current form will not be that money.”
As the dust settled on Mr Kwon’s dream, at least he had the foresight to understand that the project had lost investors’ trust and a shot at mass adoption. We can now say the same about many other crypto projects and I believe Bitcoin is no different.
Eulogy made by Kevin George