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May 31, 2022 06:49 pm GMT

People in Argentina, Iran, Pakistan, and Nigeria lost everything when Terra crashed

In countries with unstable currencies prone to hyperinflation, some people keep their net worth in the form of stablecoins, which are pegged to the U.S. dollar. Unfortunately, many of them bought Terra (LUNA), which wasn't backed by actual U.S. dollars. On March 29 it was trading at $107. — Read the rest


Original Link: https://boingboing.net/2022/05/31/people-in-argentina-iran-pakistan-and-nigeria-lost-everything-when-terra-crashed.html

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