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Terra collapsed because it used hubris for collateral — Knifefight According to some, the whole UST/Terra stablecoin str…
Terra collapsed because it used hubris for collateral — Knifefight
According to some, the whole UST/Terra stablecoin structure was a circular Ponzi scheme that used hubris for collateral.
So why did so many smart people fall for it?
https://cointelegraph.com/magazine/2022/05/20/knifefight-terra-collapse-hubris-as-collateral
