Do we know how the actual decline in terra began? Like, what actually kicked that off? We don't exactly. The entire history of pegged financial assets has shown that if you constuc them poorly, and make them an attractive target for attack. And so the idea that there was some malicious attacker, and without that, terra would still be functioning fine is unconvincing to me.
Paris Marx is joined by Bennett Tomlin to discuss last week’s crash of Terra and Luna, the problems with stablecoins, and whether this collapse will finally force regulators to take action on cryptocurrency.
Bennett Tomlin is a co-host of Crypto Critics’ Corner and writer of the FUD Letter. Follow Bennett on Twitter at @BennettTomlin.
Tech Won’t Save Us offers a critical perspective on tech, its worldview, and wider society with the goal of inspiring people to demand better tech and a better world. Follow the podcast (@techwontsaveus) and host Paris Marx (@parismarx) on Twitter, and support the show on Patreon.
Find out more about Harbinger Media Network at harbingermedianetwork.com.
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