The crypto market crash/UST disaster, explained. In under 30 minutes. You're welcome.
We invited future pilot, computer programmer, lizard farmer, and crypto expert Coltrane Nadler to break down WTF happened with Terra/UST/Luna — aka, the stablecoin that collapsed and brought the rest of the crypto market down with it. He explains how stablecoins work, why they’re appealing to people as savings accounts, and what might be next for Terra Labs’ “godlike” founder, Do Kwon (who, for the record, may now face prosecution in South Korea).
Vocab words: UST, Terra, Luna, Do Kwon, DAI, USDT