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George Georgiev



Articles by George Georgiev

Ripple Soars 50% on SEC Trial News While Crypto Markets Shed $40 Billion: This Week’s Recap

1 day ago

The past seven days were quite painful in the cryptocurrency market as the majority of it is trading well in the red. This resulted in $40 billion being lost from the total capitalization, which is inching closer to $900 billion. The most obvious outlier in this is Ripple’s XRP which soared by 50%. Let’s unpack.
Bitcoin’s price is currently sitting slightly below $19,000, down 5.7% in the past week. Seven days ago, it was trading at around $19,500 and even managed to poke above $20K on Sunday, but the bears were quick to intercept and push BTC back towards $18,500.
From there, the cryptocurrency made another attempt at recovery, but the Fed’s decision to once again hike interest rates sent the market south, and BTC was once again found at around the same level at $18,500.

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2 Possible Reasons Why Ripple (XRP) Price Skyrocketed 50% in a Week

1 day ago

XRP is the best-performing cryptocurrency in the past seven days, and it’s not even close. Trading at around $0.50, it’s up by more than 50%, leaving all other major altcoins in the dust.
This has had the entire community speculating on possible reasons, so we take a look at two of them that might have caused the surge.
The Ripple-SEC Case
The case between the US Securities and Exchange Commission and Ripple is one that the entire industry is looking at, for the way it ends might have serious implications on other projects as well.
However, Ripple’s legal counsel has demonstrated a predominantly confident stance that XRP is not, by any means, security and has even gone so far as to attack the Commission, citing lack of “investment contract” granting investors rights.

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Cardano’s Vasil Hard Fork Happens Tomorrow: What ADA Holders Need to Know

3 days ago

Cardano’s Vasil hard fork is arguably one of the most highly-anticipated upgrades for the network. The parent organization behind the platform – Input Output – took it to Twitter today to reveal everything users need to know about it and also confirmed that it will take place tomorrow – September 22nd.
What is the Vasil Hard Fork?
Named after the late Bulgarian mathematician – Vasil Dabov – who was also a very well-known and prominent community member and contributor to Cardano, the upgrade is one of great significance for the network. It’s aimed at boosting its scalability and overall usability.
The Cardano Improvement Proposals (CIP) that are to be introduced with the hard fork include:
CIP-31 (Reference Inputs)
CIP-32 (Inline Datums)
CIP-33 (Reference Scripts)
CIP-40

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Ethereum Completes Merge Successfully, Crypto Markets Take a Beating: This Week’s Recap

8 days ago

The past seven days saw the successful transition of Ethereum’s network from a Proof-of-Work consensus algorithm to one governed by Proof-of-Stake. The event was described by many as one of the most significant technical achievements in the industry and is put on par by importance with Bitcoin’s halving. However, the total market declined by some $20 billion over the same period as many cryptocurrencies are charting decreases.
Bitcoin is among the outliers in terms of price performance over the past seven days. BTC’s price is charting a 2.7% increase compared to where it was trading a week ago. As a matter of fact, the cryptocurrency increased to as much as $22,500 on September 13th, but that’s when the bears stepped in and pushed its price towards $20K. At the time of

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This Is the Only Chart That Matters Post-Merge, Argues Arthur Hayes

8 days ago

Arthur Hayes – the co-founder and former CEO of one of the most popular cryptocurrency derivatives exchanges (BitMEX) – has laid out some thoughts on Ethereum’s Merge.
In a recent tweet, Hayes argued that the only thing that matters (price-wise, seemingly), for ETH after the Merge is its net issuance.
To those unaware, Ethereum’s transition from proof-of-work to proof-of-stake introduced a dramatic shift in the cryptocurrency’s issuance model.
The summarized calculations of ETH’s issuance following the Merge was given by the Ethereum Foundation itself:
ETH Issuance TLDR
-Mining rewrds approximately 13,000 ETH/day pre-merge
-Staking rewards approximately 1,600 ETH/day pre-merge
After the Merge, only the 1,600 ETH per day will remain, dropping total new ETH issuance by

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Major Bitcoin and Ethereum Volatility as US Inflation (CPI) Clocks in at 8.3%

11 days ago

The Consumer Price Index numbers for August are in, and, as always, this caused major volatility within the cryptocurrency markets.
At the time of this writing, Ethereum, as well as Bitcoin, are charting initial declines.
The US Bureau of Labor Statistics just updated the numbers for the Consumer Price Index for August and they are slightly above expectations.
The August inflation locked in at 8.3%, which is 0.2% higher than what experts expected. This represents a 0.1% month-over-month increase.
At the time of this writing, Bitcoin is trading at $21,850, down about $1,000 in the past few minutes alone, as seen in the chart below.
Source: TradingView via BinanceMeanwhile, Ethereum is also trading below $1,700.
The volatility has also resulted in about $50 million worth of

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Merge Ready: Ethereum Completes Last Shadow Fork Before the Transition

14 days ago

Days before the estimated date of Ethereum’s transition to Proof-of-Stake (PoS), the protocol went through the last shadow fork.
Ethereum research and engineering company, Nethermind, took it to Twitter to reveal that the network went through the last shadow fork before The Merge.
Transition in Mainnet-Shadowfork-13 (the last shadowfork before The Merge) was successful for all Nethermind nodes!
Transition in Mainnet-Shadowfork-13 (the last shadowfork before The Merge) was successful for all Nethermind nodes!🐼💪#TheMerge #Ethereum #Nethermind #MSF13 pic.twitter.com/sddPPwSR1u
— Nethermind (@nethermindeth) September 9, 2022

Representing the result of multiple years of research and development, The Merge is a highly-complex process. Shadow forks are designed to help

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Bitcoin Volatility, LUNA and LUNC Rollercoaster, Ethereum Merge Hype: This Week’s Crypto Recap

15 days ago

The past seven days were action-packed, and it’s safe to say those interesting developments took place on all fronts. Bitcoin went through considerable volatility, and Terra’s ecosystem in the face of both LUNC and LUNA went on a massive rollercoaster while the Ethereum Merge countdown officially kicked off with the Bellatrix upgrade. Let’s unpack.
Starting with Bitcoin, it got off on the wrong footing. For the first few days of the last week, BTC was rangebound around $20K – a trend that we saw for quite some time before that. On Tuesday, though, the sellers took control and pushed the price towards $18,000.
This level turned out to be pivotal, as it had previously supported the price on three different occasions. Once again, the bulls managed to hold the line and

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LUNA Explodes 150% in an Hour as Volatility Ramps Up

15 days ago

LUNA – the cryptocurrency behind the Terra ecosystem – is going through major volatility at the time of this writing.
In the past hour alone, LUNA’s price skyrocketed by a whopping 150% and almost touched $5. The move happened with significant volume relative to that of previous days.
LUNA’s price exploded by a stunning 150% in about an hour and is currently trading at around $4.7, as seen in the chart below.
Source: Binance via TradingView
It’s also evident that the volatility has picked up tremendously, as the subsequent candle also had an amplitude of about 20%.
This resulted in a considerable number of liquidations for that particular cryptocurrency. In less than an hour, almost $7 million in leveraged positions were wiped off the market.
 It’s also worth noting that

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$33 Million Worth of Staked ETH Removed from Curve by Three Arrows Capital Wallet

18 days ago

For the first time in roughly 10 days, one of the wallets associated with the troubled cryptocurrency hedge fund, Three Arrows Capital, has moved some funds.
On-chain data reveals that the address removed $33 million worth of stETH (staked ETH) from the Curve liquidity pool, alongside roughly $2 million worth of BTC.
Data from Etherscan reveals that an address associated with Three Arrows Capital has removed some $33 million (20,945 stETH) from the Curve Liquidity Farming Pool contract.
The transaction can be tracked here.
The address (ending in 58143) also removed 202 wrapped BTC (WBTC) worth about $4 million in liquidity.
There doesn’t seem to be any reasoning behind the move.
It’s worth noting, though, that the latest developments with Three Arrows Capital took place at

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Weekend Watch: Bitcoin Lost $20K, Cardano Soars 6%

20 days ago

It appears that the bears are slowly taking control over the market in the short term as the primary cryptocurrency trades below $20K, and the majority of other coins look indecisive at best. Of course, there are certain exceptions.
Bitcoin Losing $20K
The $20,000 level is one of significant importance. Apart from being a psychological mark, it also contains technical and fundamental support, being the high of the 2017-2018 bull market.
With that said, BTC has been flirting with $20K for a few days now, and it appears that the bulls may have finally given up. At the time of this writing, the cryptocurrency trades at around $19,800, having recovered from the daily lows at around $19,600.
Source: Binance via TradingViewThe volatility has also disappeared from the market over

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Crypto Market Cap Slips Below $1 Trillion as Altcoins Bleed Out (Market Watch)

21 days ago

The total cryptocurrency market capitalization dropped below $1 trillion on Saturday as the majority of altcoins are bleeding out. Bitcoin also dropped below the coveted $20,000 as the bulls failed to produce any meaningful increases.
Bitcoin Below $20K
The primary cryptocurrency has failed to chart any notable increases in the past 24 hours and is down some 1.3%. The bulls attempted to push the price upwards on a few occasions but were unable to do so. Eventually, this allowed sellers to prevail and to once again push BTC below the coveted $20K level.
Source: Quantify CryptoThe last 24 hours saw about $28 million worth of BTC positions being liquidated, which is relatively insignificant, showing that the volatility has also dried off. At this time, ETH futures traders

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BTC’s Fight for $20K, OpenSea and Arbitrum Upgrades, the Merge Closing in: This Week’s Crypto Recap

22 days ago

The past seven days didn’t turn out very well for the broader cryptocurrency market as the total capitalization decreased by roughly $60 billion. It was a week filled with ups and downs, so let’s unpack.
This time seven days ago, Bitcoin was trading slightly below $21K, but things quickly took a turn for the worse. The cryptocurrency decreased to $20K and eventually fall below this critical level on Monday, August 29th. It was then the back and forth started.
On Tuesday, BTC was trading at $20,500 before it also crashed to $19,600. On Wednesday, the price once again shot up towards $20,500, only to drop back o $19,500 the following day. At the time of this writing, the cryptocurrency is trading at around $20,000, charting a slight decline over the past seven days. In any

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Recovery: Bitcoin Reclaims $20K, ETH Regains 10% (Market Watch)

25 days ago

The past 24 hours took a turn for the better as, the broader cryptocurrency market added over $50 billion to its total capitalization and reclaimed the coveted $1 trillion level. This comes on the back of Bitcoin reclaiming $20K and Ethereum pushing for $1.6K at the time of this writing.
Bitcoin Price Bouncing Back
Yesterday, the BTC price slipped towards $19,500, where it seems to have marked some sort of a local bottom as that’s where the bulls took more definitive steps to protect the cryptocurrency from further downside.
Since then, bitcoin’s price recovered by almost $1,000, and it’s currently trading above $20,400.
Source: Binance via TradingViewThat said, Bitcoin’s dominance, the metric that gauges its share relative to that of the entire market, has declined by

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Jerome Powell Speech, Merge Updates, and Bitcoin’s Choppy Price Action: The Week’s Crypto Recap

29 days ago

The past seven days were relatively unproductive in the cryptocurrency markets – at least in terms of price development, but this doesn’t mean there wasn’t volatility. The total capitalization seems to be hanging by a thread slightly above the coveted mark of $1 trillion.
This time last week, Bitcoin was trading at around $21,700 but quickly retraced below $21,000. The price spent quite some time battling with this area, and it appears that even until this moment, there’s no clear winner.
By the looks of it, the entire market was particularly indecisive and the main reason for this seems to be Jerome Powell’s speech at Jackson Hole. The Fed isn’t scheduled to produce a rate hike in August, so market participants were eager to get a hint at what might the next hike in

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What is ENS? Ethereum Name Service Explained (Updated 2022)

August 25, 2022

Back in the days, when the Internet wasn’t so mainstream, one of the main problems that users faced was that domain names hadn’t been matched up to internet protocol (IP) addresses.
This made them very unfriendly towards the average Joe, who had to type in the IP address of the website they wanted to visit, as in to literally type in the numbers.
Unlike traditional IPs, cryptocurrency addresses represent even longer strings of numbers and letters. If a user wants to send another user funds over Ethereum’s network, they would have to input the address and make sure that each number and letter is written correctly.
Quick Navigation
It’s also important to know that, in this regard, blockchain-based technology is very punishing. This is because if you fail to input the address

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Natalie Brunell: This is What Made Me Go From Traditional Media to Full-Time Bitcoin (Interview)

August 24, 2022

Natalie Brunell is one of the most well-known women in the cryptocurrency industry. With a background in traditional journalism, she currently hosts the Coin Stories podcast, featuring some of the leading voices in both Bitcoin and economics.
Brunell is Polish-born and, together with her family, immigrated to the US when she was five. she has broad experience in traditional media, covering breaking news, enterprise reporting, as well as features. Some of her previous roles include the top-rated NBC Station KCRA-TV, as well as being a national correspondent for ABC NewsOne based in LA.
A few years ago, however, she started a new chapter in her professional life, going full-time Bitcoin and starting the Coin Stories podcast. In this episode of the CryptoPotato Podcast,

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Is The Ethereum 2.0 Merge Priced In?

August 24, 2022

Ethereum’s merge is undoubtedly the most highly-anticipated event in the cryptocurrency industry in 2022. Scheduled for September, the anticipation also caused a considerable increase in the price of ETH, which is up about 90% since the lows in June.
Many believe that this increase is largely due to the Merge, and some are speculating that the event might already be priced in. But is it really? To get to the bottom of this, there are a few other questions that need an answer.
What Does “To Be Priced In” Mean?
In the world of cryptocurrency trading, the price of an asset is influenced by a range of different things. Major protocol upgrades can undoubtedly be a catalyst, albeit positive or negative.
For example, there’s a very prominent and popular theory that the

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Bitcoin and Ethereum Plunge as Merge Rally Cools Off: This Week’s Crypto Recap

August 19, 2022

Things took a turn for the worse in the past seven days as the leading cryptocurrencies plunged. The total market capitalization is down some $115 billion in seven days as multiple leading coins dropped by double-digit percentages. With that said, let’s unpack.
Bitcoin trades at around $21,500, which is exactly 10% below its price at this time last week. The leading cryptocurrency by means of total market capitalization failed to overcome the critical resistance at $25K, and, with the exception of a few brief periods, the price was going down only.
Bitcoin’s dominance – the metric that tracks BTC’s share relative to that of the entire market – currently sits at 38.55%. This is more or less the same as it was seven days ago, which means that the altcoins failed to

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BAYC Sales Soar 100% Overnight as Ape #5383 Sells For $1.45 Million

August 18, 2022

Bored Ape Yacht Club saw a considerable increase in its overall sales volume and the number of traders for the past 24 hours.
This happens as Bored Ape #5383 was sold for 777 ETH, worth some $1.45 million at the time of this writing.
Bored Ape Yacht Club is arguably the most popular collection of non-fungible tokens and surely the one with the highest floor price.
At the time of writing this article, the floor price sits at 72 ETH.
Data from DappRadar shows that over the past 24 hours, BAYC saw a considerable increase in both traders and sales. The total traders over the past day are up 125%, amounting to 27, whereas the collection saw 16 trades, up 100% from yesterday.
Most notably, the largest sale was that of Bored Ape #5383.
Source: OpenSeaTh, is is a rare ape and it’s

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The Vasil Hard Fork: Will It Be a Turning Point for Cardano?

August 15, 2022

It’s hard fork season. Major protocols are undergoing serious upgrades, and Cardano is no exception. The network is en route to an upgrade of its own. In fact, it’s one of the most highly-anticipated hard forks, and it’s designed to boost Cardano’s scalability and overall usability.
With many users looking forward to the Vasil hard fork, it’s worth looking into how this might impact ADA.
The Vasil Hard Fork Explained
To examine its potential impact, it’s necessary to first break down the technicalities of the hard fork and what it stands to achieve. You can find everything you need to know about the Vasil hard fork in our detailed and designated article.
The upcoming upgrade is called Vasil – named after the Bulgarian mathematician Vasil Dabov –  a prominent member of the

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ETH Merge Coming Sooner, BlackRock With First Direct BTC Investment Product: This Week’s Crypto Recap

August 12, 2022

The past week was particularly eventful, and that’s reflected in the overall performance. The total cryptocurrency market capitalization is up almost $100 million as most of the coins are well in the green. Let’s unpack.
Starting with Bitcoin, it’s up 5.2% over the week and is currently trading around $24,000. This time last week, the cryptocurrency was hovering around the $23K area, where it remained until Monday, when the price took off and reached $24K. The euphoria was short-lived, however, as the bears were quick to push BTC back below $23K on Wednesday. The correction was also for not as the price recovered rapidly above $24K and even pushed towards $25,000 yesterday.
The last move might have been propelled by an announcement that BlackRock – the world’s largest

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Ankr Receives a Strategic Investment from Binance Labs

August 11, 2022

Ankr is a well-known Web3 infrastructure provider. In a nutshell, the protocol works in the background, but it makes using decentralized applications, wallets, as well as crypto-based games possible by connecting them to the blockchains that they need to communicate with.
Known for its continuous support for the BNB Chain by introducing BNB Liquid Staking, as well as building some of its core infrastructures, including their Erigon upgrade, Ankr has now received a strategic investment from Binance’s VC arm – Binance Labs.
Binance Labs Invests in Ankr
According to a press release shared with CryptoPotato, Ankr has been the recipient of a strategic investment from Binance Labs. The specifics around the total amount invested remain undisclosed.
However, the proceeds will be

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CryptoPunks Trading Volume Soars 25% Overnight

August 11, 2022

CryptoPunks is arguably one of the most iconic collections of NFTs – the one that ignited the niche’s bull market in 2021 and throughout the first few months of 2022.
It appears that users are showing renewed interest in the non-fungible tokens as data reveals a soaring trading volume over the past 24 hours.
Data from popular DApp resource DappRadar reveals that the interest in the CryptoPunks NFT collection is soaring over the past couple of days.
The total trading volume for the collection soared by about 25% over the past 24 hours, representing a solid $1.7 million of NFTs traded.
This culminated in a total of 10 trades. Even though the number might not sound significant, it’s worth noting that the floor price for CryptoPunks at the time of this writing is about 75

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CryptoBlades: Guide and Review of the Interactive Play-to-Earn Game

May 18, 2022

The Play-to-Earn (P2E) gaming sector has grown into a powerful concept within the cryptocurrency industry as non-fungible tokens took flight and legitimized a new segment in the market.
Gaming has long been touted as one of the best applications for blockchain-based technology. Even though it’s still in its nascency, GameFi has proven to be a model that players enjoy.
For example, CryptoBlades — a blockchain and web-based NFT roleplaying game — attracted the interest of hundreds of thousands of users. Initially deployed on the BNB Chain (BSC), it expanded to other networks to achieve transaction efficiency and improved user experience. CryptoBlades was also named the Most Valuable Builder in the BSC incubation program.
The following is a complete guide on playing the game

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Bitstamp CEO JB Graftieaux: We Are Still Early (Interview)

May 17, 2022

Bitstamp is one of the veteran crypto exchanges, operating since 2011. It’s a European-focused platform based in Slovenia, with its headquarters in London, England — and serves the USA and many other countries as well.
CryptoPotato a chance to meet up with Jean-Baptiste Graftieaux (JB for short), the company’s global Chief Executive Officer (CEO). He has held leadership roles in traditional finance, fintech, payments, and eCommerce – as well as cryptocurrency. He became the global CEO of Bitstamp in May 2022 – before that, he was serving as the CEO of Bitstsamp Europe.
At the Paris Blockchain Week Summit, Graftieaux shared with us the story of the early days of Bitcoin (“in 2011, the only way to buy BTC in Europe was by sending money to Japan”), the enormous growth of

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Okay Bears NFT Collection: The Complete Guide

May 17, 2022

Okay, Bears has quickly become amongst the most popular collections of non-fungible tokens based on Solana.
At the time of this writing in May 2022, the collection has also become the most actively traded one on OpenSea, surpassing the likes of the Bored Ape Yacht Club, Azuki, CloneX, and others.
The following is a deep dive on Okay Bears and everything there is to know about the collection. 
What Are Okay Bears NFTs?
Okay Bears is a collection of 10,000 non-fungible tokens released on the Solana blockchain back on April 27th at a price of 1.5 SOL each (worth $xx on the day of the mint).

In a convincingly attractive and enjoyable way, the project’s manifesto hints at the team’s true intentions behind the collection – namely, to create a relaxed and vibrant community where

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CZ Binance: I Would Like to See More Transparency From Terra’s Team

May 15, 2022

The CEO of the world’s leading cryptocurrency exchange Binance, Changpeng Zhao (CZ), said that he expects more transparency from Luna’s team following last week’s UST-LUNA fiasco.
Last week saw a top cryptocurrency literally go to zero in a matter of days.
UST – Terra’s algorithmic stablecoin – lost its peg and crashed to some $0.225. Because of how the protocol works, this created a massive arbitrage opportunity as users could burn 1 UST and receive $1 worth of LUNA.
So long as UST was below its peg, traders were able to print LUNA and dump it on the open market in a loop that saw a whopping 6.5 trillion enter circulation in a couple of days.
Naturally, this crashed the price of LUNA to literally $0 as most of the exchanges delisted the asset.
One of these exchanges was

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This Week’s Recap: UST’s Depeg and LUNA’s Demise, Crypto Markets Lose $500 Billion

May 13, 2022

This was the most eventful week in many months, but, unfortunately, the end result was that $500 billion were wiped off the total cryptocurrency market capitalization. Terra’s ecosystem was at the forefront of it all, so let’s unpack.
On May 9th, UST – the algorithmic stablecoin of the Terra ecosystem, lost its peg. It fell to about $0.95, but no one was prepared for what happened after that. On the following day, UST continued losing value as the Luna Foundation Guard continued deploying capital in a futile attempt to defend the peg. It all came crashing shortly after – on May 11th, UST was trading at a discount of close to 80%.
This, in turn, created a massive arbitrage opportunity because of the way the algorithm behind the stablecoin works. So long as UST trades below

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Terra’s Do Kwon 8 Days Ago: There’s Entertainment in Watching Companies Die

May 12, 2022

Terra’s entire ecosystem has been at the forefront of everything crypto in the past few days. Its stablecoin – UST – lost its peg. LUNA – the other cryptocurrency of the ecosystem – lost 99.9% of its value in days and keeps crashing.
Do Kwon – the CEO of Terra – has been in the center of many discussions in the cryptocurrency industry as of late, and in a recent interview, he said that “there’s entertainment in watching companies die.” Ironic.
The UST-LUNA Debacle
A couple of days ago, UST – the algorithmic stablecoin of the Terra ecosystem – lost its peg. Albeit not a first for UST, this time, it was different.
At the time of this writing, UST is trading at 0.63 USDT, which is far away from dollar parity. It’s also important to keep in mind that its price dropped to a low

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