I wonder why a lot of people intentionally (or unintentionally) ignore the first rule of crypto: Dont invest more than you can afford to lose.
Everyone says it. Why do they always miss it???
It's a sad situation but it's crypto. Thankfully there are the regulations in South Korea and Singapore that keep him accountable so we can use that to believe it's not all over yet.
I believe in due time, people will trust the system again. Crypto can be a bit forgiving. I believe. They may not reach their former glory quickly but some people will believe and invest and coz of this they'll try twice as hard to ensure that these things never happen again.
Hopefully, they've figured out where they got it wrong.
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Yup, there is still quite a few billion dollars in the kitty so they have the funds to start again.
From what it appears, they're not using an algorithmic pegged stable coin but a colatorised one.
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I just read a post where someone described Luna as a Ponzi. He had a few valid points. Does that scare you?
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