Following the collapse of both the UST stablecoin and Terra’s native token Luna last month, Terraform Labs CEO Do Kwon is confident about rebuilding the Terra blockchain.
Speaking in a Wednesday interview with The Wall Street Journal, Do Kwon said:
“I have great confidence in our ability to build back even stronger than we once were.”
The Terra network was performing excellently until the 7th of May, when UST fell to $0.35. Meanwhile, the stablecoin was meant to maintain its $1 peg. Luna joined the losing side a few days after the crash, falling from $80 to a few cents on the 12th of May. The implosion is such a historic one in the crypto industry, and many investors are still counting losses. The incident also set the pace further for continued losses across other crypto assets, including the top digital asset, BTC.
Kwon Proposes Rebuilding of Terra Blockchain
Kwon initially proposed the rebuilding of the Terra blockchain in Late May. He also suggested the creation of a new token....
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...