Do Kwon Alex Mashinsky Terraform Labs Britain city Venture county Luna business Stablecoin MicroStrategy Funding Do Kwon Alex Mashinsky Terraform Labs Britain city Venture county Luna

Crypto Biz: Luna’s meltdown will live on in infamy, May 5-11, 2022

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cointelegraph.com

Terra’s meltdown forced cryptocurrency investors to ask a question they never thought was possible: Will TerraUSD (UST) or Terra (LUNA) reach $1.00 first?

The magnitude of this question provides a sobering reminder of just how quickly things can change in crypto. While Terraform Labs co-founder Do Kwon remains defiant, many people in the industry are beginning to distance themselves from the protocol they thought was delivering real-world utility for stablecoins and Bitcoin (BTC).The threat of contagion from Terra’s apparent collapse could take months or even years to fully quantify, but it looks like the howls of crypto winter are growing louder.

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