Ethereum founder Vitalik Buterin: Terra stablecoin investors should be made whole

Ethereum founder Vitalik Buterin: Terra stablecoin investors should be made whole

From fortune.com

The Terra ecosystem completely unraveled last week, taking much of the cryptocurrency market down with it. Its algorithmic stablecoin TerraUSD (UST) crashed far below its $1 peg, and its sister token Luna collapsed to nearly zero. Though the overall market is now recovering, the demise of UST and Luna wiped out many cryptocurrency investors’ life savings. This left the Terra community, including its creator Do Kwon, proposing plans to somehow fix the damage done. One proposal on the Terra forum suggests that Terra should make investors “whole” again with its remaining funds—and Ethereum co-founder Vitalik ... (full story)

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Post #1
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May 16, 2022 10:47am May 16, 2022 10:47am

cryptocow
Joined Aug 2018 | Status: Mooing | 578 Comments

Who exactly is going to be making investors "whole" again? I nominate Vitalik.

Post #2
Quote
May 16, 2022 11:53am May 16, 2022 11:53am

yieldjunkie
Joined Dec 2020 | Status: Member | 131 Comments

Quote

Disliked

cites FDIC’s $250,000 as ‘precedent’

Lmao, citing the FDIC? I thought we hated centralization?!

Quoting cryptocow

Disliked

Who exactly is going to be making investors "whole" again? I nominate Vitalik.

Ignored

Easy. Do Kwon can just create SOLAR as a compliment to LUNA and UST then print trillions of it to appease the masses.

Post #3
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May 16, 2022 2:07pm May 16, 2022 2:07pm

Goat
Joined Jan 2009 | Status: FREE ROSS | 531 Comments

Quoting yieldjunkie

Disliked

{quote} Lmao, citing the FDIC? I thought we hated centralization?

Ignored

Crypto pioneers love to reinvent the wheel.

Post #4
Quote
May 16, 2022 2:36pm May 16, 2022 2:36pm

Jolita
Joined Jan 2012 | Status: Focused | 218 Comments | Invisible

Many Luna investors are in parity.
This is what happened on Etoro last week after Luna reached the bottom -
''We have taken the decision to disable on the eToro platform due to market conditions. Existing client positions remain unaffected.''

Positions, investments are frozen. Investors are leaving the platform.

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Posted: May 16, 2022 4:15am
Submitted by:
Newsstand

Category: Entertainment News

Comments: 4 / Views: 270