Sirwin
Sirwin

Terra is guilty

By xuanling11 | Crypto Learning | 17 Feb 2023


The crypto domino was falling, triggered by Luna Terra Stablecion. 

 

The creator of Luna Do Kwon was playing innocent.

 

Now the SEC is after him.

 

Terraform Labs is the company behind Luna blockchain.

 

Yes, the crypto company...

 

How the blockchain automatically transacts money needs a company is really a question behind all these wonderlands of money creation.

 

Anyhow, the SEC is charging Terraform Labs of fraud.

 

Luna which is the native token of the Terra blockchain, collapsed within a week in 2022 marked the start of the crypto falling.

 

The creator was on the run even those he claimed he was not.

 

$45B of market cap vanished within a week and many later collapsed can all be tracked back to Luna.

 

A chain reaction of the bankruptcy continued into 2023. 

 

Thanks to its stablecoin UST, an algorithm stablecoin that pegs through an algorithm. And apparently, that is not working out so well.

 

The rest is the history.

 

The company has gone, the founders were running and defending in Twitter. Dening anything wrong doing in front of the internet.

 

Apparently, that is not working either.

 

The question is why a blockchain needs a company to run anyway?!

 

It sounds very suspicious...

 

Photo by Emily Morter on Unsplash


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You can refer my previous article lists here and here and here and here

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Disputes between DCG and Gemini
New NFTs Trend
SEC Lawsuits
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Why AI is more convincing than blockchain
Bitcoin bond is nonsense
Bull market returns until
Bitcoin got one more problem
Deflation is coming
The thesis against Crypto Exchanges
Crypto liquidities
Crypto bear market isn't gone
Does Bitcoin negatively correlate to the dollar
Why Ethereum reputation is in question
Crypto whales are secretly dumping
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Say no to FOMO
About my new book
Market is up today but why
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When the safest security got hacked
Why the government tried to regulate crypto but fail
Era of influence
Serious of crypto
Humanity in crypto
Position of Crypto
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Pressure Cooker Environment
Growth vs Fixed
Crypto selections
Crypto is a security
If you are in Crypto, you are stupid

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xuanling11
xuanling11

Check out https://www.xuanling11.com/.


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