Lots of crypto celebs are speaking up about the Terra collapse
By Brenden Rearick, InvestorPlace Financial News Writer May 19, 2022, 4:56 pm EDT
- Industry leaders are starting to deliver their takes on Terra’s (LUNA-USD) LUNA crypto
- LUNA saw a rapid decline last week, with prices falling from more than $80 per coin to under a penny
- Terra founder Do Kwon and his team have put up a revival plan for the network to vote on
The LUNA crypto crash was unprecedented, unforeseen and a very bad look for a faltering crypto industry. With one of the largest projects in the world plummeting into nothingness, crypto skeptics have been armed with plenty more reason to dismiss the entire industry.
Now, as Do Kwon and other Terra developers attempt to pick up the pieces of their network, industry bigwigs and government regulators are speaking out. These industry influencers are dishing out all sorts of takes on the Terra crash, leveraging the event for lessons in investing, arguing for greater regulation and speaking on whether the collapse will have a long-term effect on the industry.
LUNA Crypto Crash Gets Crypto Executives Talking
The LUNA crypto is spawning a lot of conversation among fellow blockchain developers. Unfortunately for Do Kwon and the Terra team, their comments aren’t the kindest.
Take Dogecoin (DOGE-USD) cofounder Billy Markus for example; he is slamming Kwon’s revival proposal for the network. Markus says any attempt to salvage the network will simply create new victims. He advises Kwon to move on.
