This is an excerpt from The Blind Spot’s deep dive into the Terra stablecoin debacle, currently available in full to premium subscribers.
Why Luna is a lesson for all of finance.
The day of reckoning so many naysayers warned the stablecoin market would eventually experience has finally arrived. In some respects, the shakeout is probably a good thing. We need to see these aspiring systems fail in controlled ways to understand the scope of their potential contagion if they were ever to get huge and thus […]
I’m really pressed for time but I wanted to get this out as it’s important. Here as a result is the longish thread-based reply I just posted on Twitter in response to this question: One question: if I buy tether, my cash was supposedly going into a short term dollar asset (asset side of tethers […]