Terra was a Poorly-Designed “Castle of Cards”, Tether CTO Says

Terra was a Poorly-Designed “Castle of Cards”, Tether CTO Says


Coinnounce
2022-05-20 09:17:07

Paolo Ardoino, CTO at Tether and Bitfinex, said that the Terra LUNA stablecoin was not supposed to be a trifle, but was just a poorly designed “fortress of playing cards”. Last week, TerraUSD/UST lost its peg and fell by 40% resulting in Terra LUNA stablecoin plummeting by 100%, thereby stamping out the money of all […]