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This Is How the Terra Stablecoin Actually Imploded
Podcast |
Odd Lots
Publisher |
Bloomberg
Media Type |
audio
Categories Via RSS |
Business
Business News
Investing
News
News Commentary
Publication Date |
May 15, 2022
Episode Duration |
01:09:26

The collapse of the Terra ecosystem, and the tokens Luna and UST, will go down as one of the most painful and devastating chapters in crypto history. Over $60 billion market value has evaporated, and numerous retail investors are nursing major losses. What's particularly bad is that this was a big project, championed by some of the most notable names in crypto. But some people obviously saw it coming, and understood it to be a disaster in the making. On this episode we speak with Kevin Zhou, the founder of the crypto hedge fund Galois Capital. He began warning about Terra publicly earlier this year, and was short Luna starting in early May. He explains the exact mechanics of the coin's implosion. 

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