2 years ago
Nikhilesh De is CoinDesk's managing exertion for planetary argumentation and regulation. He owns marginal amounts of bitcoin and ether.
Terra creator Do Kwon said successful a tweet thread helium was “heartbroken” astir his creations losing functionally each of their worth this week.
Kwon, who founded Terraform Labs – creator of the LUNA governance token, TerraUSD stablecoin and assorted different cryptocurrencies – said helium spent the past respective days calling assorted assemblage members astir the tokens’ losing each of their value. Luna, which was worthy astir $120 astatine the commencement of April, collapsed successful melodramatic manner this week and traded astir 0.03 cents arsenic of property time.
“I inactive judge that decentralized economies merit decentralized wealth – but it is wide that $UST successful its existent signifier volition not beryllium that money,” helium tweeted.
TerraUSD (UST), a stablecoin whose worth was expected to stay pegged to the dollar, mislaid that peg earlier this week and ne'er recovered.
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat NowDISCLOSURE
Please enactment that our
cookies, and
do not merchantability my idiosyncratic information
has been updated.
The person successful quality and accusation connected cryptocurrency, integer assets and the aboriginal of money, CoinDesk is simply a media outlet that strives for the highest journalistic standards and abides by a
strict acceptable of editorial policies. CoinDesk is an autarkic operating subsidiary of
Digital Currency Group, which invests in
and blockchain
startups. As portion of their compensation, definite CoinDesk employees, including editorial employees, whitethorn person vulnerability to DCG equity successful the signifier of
stock appreciation rights, which vest implicit a multi-year period. CoinDesk journalists are not allowed to acquisition banal outright successful DCG.
Nikhilesh De is CoinDesk's managing exertion for planetary argumentation and regulation. He owns marginal amounts of bitcoin and ether.
Nikhilesh De is CoinDesk's managing exertion for planetary argumentation and regulation. He owns marginal amounts of bitcoin and ether.
Sign up for The Node, our regular newsletter bringing you the biggest crypto quality and ideas.
By signing up, you volition person emails astir CoinDesk merchandise updates, events and selling and you hold to our terms of services and privacy policy.
English (US) 