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Do Kwon Tries Again After $40 Billion Crypto Crash
Manage episode 332795089 series 1698841
Algorithmic stablecoin TerraUSD was supposed to maintain its value at $1 with the help of its sister-crypto, Luna. But TerraUSD’s price collapsed to pennies in May, while Luna plunged by more than 99%, wiping out around $40 billion in value. Their creator Do Kwon has been attempting a comeback by relaunching Luna. WSJ markets reporter Alexander Osipovich joins host Julie Chang to explain the collapse of Do Kwon’s crypto empire and what his second try looks like.
Learn more about your ad choices. Visit megaphone.fm/adchoices
2148 episodes
Manage episode 332795089 series 1698841
Algorithmic stablecoin TerraUSD was supposed to maintain its value at $1 with the help of its sister-crypto, Luna. But TerraUSD’s price collapsed to pennies in May, while Luna plunged by more than 99%, wiping out around $40 billion in value. Their creator Do Kwon has been attempting a comeback by relaunching Luna. WSJ markets reporter Alexander Osipovich joins host Julie Chang to explain the collapse of Do Kwon’s crypto empire and what his second try looks like.
Learn more about your ad choices. Visit megaphone.fm/adchoices
2148 episodes
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