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.