Bitcoin Pioneer Charlie Shrem: ‘A Lot of People Predicted’ Terra Collapse - BitcoinEthereumNews.com
BitcoinBitcoin Pioneer Charlie Shrem: ‘A Lot of People Predicted’ Terra Collapse05 / 27 / 2022बिटकॉइन एथेरियम समाचार Bitcoin pioneer Charlie Shrem was at the कान फिल्म समारोह this week to launch crypto film-financing project Defiine—and he had some choice words regarding the collapse of पृथ्वीs UST stablecoin. “I think a lot of people predicted what would happen with Terra and LUNA,” he told डिक्रिप्ट. “But at the end of the day, because we were in a bull market, its like an example of our industry.” He drew a distinction between asset-backed stablecoins जैसे USDC और बांधने की रस्सी—the latter of which has remained famously अपारदर्शी regarding its reserves—and एल्गोरिथ्म स्थिर such as UST. Algorithmic stablecoins, he said, have “been tried so many times over the last 10 years; even in 2014, people were trying to theorize different ideas.” He added that, “Tether launched for a reason, but they realized you cant create a stablecoin backed by the same type of speculative asset, so when one starts going down, people are going to be selling one for the other.” Crypto film financing Shrems latest project, Defiine, is itself based around stablecoins. बिल भेजा गया as a digital finance solution for independent films, it leverages “assets and IP