Podknife - Do Kwon Tries Again After $40 Billion Crypto Crash by WSJ Tech News Briefing

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Do Kwon Tries Again After $40 Billion Crypto Crash

Podcast |: WSJ Tech News Briefing
Publisher |: The Wall Street Journal
Media Type |: audio
Podknife tags |: Gadgets,; Tech News,; Technology
Categories Via RSS |: News,; Tech News
Publication Date |: Jun 28, 2022
Episode Duration |: 00:14:01

Algorithmic stablecoin TerraUSD was supposed to maintain its value at $1 with the help of its sister-crypto, Luna. But TerraUSD’s price collapsed to pennies in May, while Luna plunged by more than 99%, wiping out around $40 billion in value. Their creator Do Kwon has been attempting a comeback by relaunching Luna. WSJ markets reporter Alexander Osipovich joins host Julie Chang to explain the collapse of Do Kwon’s crypto empire and what his second try looks like. Learn more about your ad choices. Visit megaphone.fm/adchoices

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