Do Kwon thought he could rule the crypto world with Terra Luna, instead what followed was the largest failure to occur in the crypto space.
The "2008 crisis of crypto" is very fitting; just as the banks received bailouts in '08 while…
Do Kwon thought he could rule the crypto world with Terra Luna, instead what followed was the largest failure to occur in the crypto space.
The "2008 crisis of crypto" is very fitting; just as the banks received bailouts in '08 while homeowners and retail investors were hung out to dry (or left homeless), in the Luna crash, the largest holders essentially got their cash back. The Luna foundation used 80,000 bitcoins to buy and burn UST (to stabilize the price) - and, of course, they purchased from the largest holders, leaving retail investors destitute.
There's a simple way to have known that Tera was a scam. It was promising a 20% interest rate in a near zero interest rate environment. No explanation of their business model or fundamentals could possibly justify that kind of an absurd interest rate when they could easily borrow money for significantly less.
* Correction at 1:58 I showed the screenshot of the wrong project, it's supposed to be 'Basis Cash', not 'Basis Markets'. Sorry about that.
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Get ready for the US GOVT DIGITAL FED Coin and buy a lucky dip. Bankers and Governments want you to trade your Decentralized Crypto for their CBDC, slowly buying up all DC, then BOOGEYMAN BAM your favorite local terrorist uses DC, Problem-Reaction-Solution, we must ban DC to prevent dead babies/grandma/muh muslim community etc!
If the gubbmint indoctrinated masses understood sound money principles and adopted privacy crypto as a reserve currency as opposed to a derivatives speculation instrument, humanity would inch further to ending state sponsored war and suffering - https://pirate.black
Will humanity beat the globalist parasites at their own game and free themselves from their shekel shakles, or will they happily enslave themselves and sign away their future generations to China Digital Tax Serfdom?
