“Whereas there have been a number of latest failures in crypto, it is very important distinguish between Terra’s case, the place a clear, open-source decentralized stablecoin failed to keep up peg parity and its creators spent proprietary capital to attempt to defend it, and failure of centralized custodial platforms the place its operators misused different individuals’s cash (buyer funds) for monetary acquire,” mentioned Do Kwon, Terraform Labs founder.
