Avalanche Founder Says Terra Is as Bad as Mt. Gox - Aliens: AI Crypto News & Markets Updates
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Avalanche Founder Says Terra Is as Bad as Mt. Gox

PublisherPublisher
U.Today

Fri, May 20, 2022

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Aliens TLDR

During a recent interview with Forbes, Alavanche founder Emin Gün Sirer compared the severity of the Terra crash to the Mt. Gox hack.

As reported by U.Today, the Terra ecosystem went belly-up earlier this month, with the LUNA token crashing to zero following the de-pegging of the UST stablecoin.

Avalanche then decided to form a partnership with Terra that ended up being “obviously problematic.” He admits that the Avalanche Foundation has lost “some money” as a result.

As reported by U.Today, Terra founder Do Kwon compared the project’s downfall to the infamous DAO hack, which causes an existential crisis for the Ethereum network.

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