Avalanche founder el33th4xor believes that the Terra disaster could be very damaging for the industry
He admits that the Avalanche Foundation has lost “some money” as a result. However, he stressed that it was not a problem for the foundation in the grand scheme of things.
As of now, the LFG holds roughly $60 million. Even if it dumped all these coins at once, the sale wouldn’t affect the token’s price in any meaningful way since its trading volume is much higher. The Avalanche foundation was fully aware of the risks associated with algorithmic stablecoins, but it decided to go with the partnership anyway since it could yield significant results.
As reported by U.Today, Terra founder Do Kwon compared the project’s downfall to the infamous DAO hack, which causes an existential crisis for the Ethereum network.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Early polling from Terra vote indicates 91% are in favor of 'rebirth'Will we see the Terra LUNA V2 fork coming soon? While voting is still open, early polls show that 91% of participants would be in favor of the new blockchain.
Les mer »
Electrify America Partners With Terra-Gen For 75 MW Of Renewable EnergyElectrify America and Terra-Gen have entered into a new partnership to build a large solar power plant in California.
Les mer »
Almost 100% of Luna Users Are Denying Terra Co-Founder's PlanICYMI: only 8% of $LUNA users somewhat agree with Do Kwon's Terra revival plan LUNA $UST
Les mer »
'Grim Reapers' financial crimes unit revived to investigate Terra collapseThe South Korean government has reformed its toughest financial investigation team and sent them after Do Kwon and Terraform Labs. Investors in the project are also launching criminal and civil suits against Kwon.
Les mer »
Pantera Capital cashed out 80% of its Terra investment before UST crashPantera Capital, one of the high-profile backers of Terraform Labs, cashed out 80% of its investment well before UST's collapse last week.
Les mer »
Galaxy's Mike Novogratz talks Terra collapse in new shareholder letterMike Novogratz, the billionaire CEO of crypto investment manager Galaxy Digital, opined on the recent crisis in the Terra blockchain ecosystem, which saw the market collapse of both the LUNA token as well as the algorithmic stablecoin UST.
Les mer »