The anchor protocol was supposed to be a lending protocol, making it easy for people to borrow certain assets on the terra chain. The wrinkle there is that it was suposd to have a stable yield. And so if you were willing to deposit your terra into anchor protoco, you could, for a long time, get 20 % yield. It's wild though. Like, just the stories that happen in this, in this industry of sca sd and fraud r are just absolutely wild.
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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