OKX Exec on Impact of Terra Ecosystem's 'Death Spiral'

After the fall of $UST, the industry 'needs to take a really high bar in evaluating on investing, shilling or listing any kind of stablecoin that basically are backed by mathematics,' @LennixOKX says. He explains the ripple effects through the industry:

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5/16/2022 9:37:00 PM

After the fall of $UST, the industry 'needs to take a really high bar in evaluating on investing, shilling or listing any kind of stablecoin that basically are backed by mathematics,' Lennix OKX says. He explains the ripple effects through the industry:

The $14 billion collapse of the Terra network continues to have a ripple effect throughout the crypto industry. Lennix Lai, director of financial markets at Seychelles-based crypto exchange OKX , discusses Terra's 'death spiral' and its fallout on platforms that listed LUNA and UST. What measures did OKX take in the attempts of protecting its UST staking investors? Plus, what the future holds for algorithmic stablecoins.

May 16, 2022

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LennixOKX Алгоритм работал нормально. Руководство Луны само искусственно вывело из проекта деньги и сбила курс. Был обман людей. LennixOKX With futures market exist. Impossible stablecoin that backed by math/Volatile assets like Luna can survive LennixOKX Not only stablecoins but also the forked meme coins. Meme coins are pure shit. Don't list in any exchanges. What happened LUNA will happen to MEME very easily. Their code is just a copy/paste of some past project

LennixOKX We should call them low volatility coins; the term stable coin should be outlawed. The irony is, Kwon created the least stable coin in history.

Binance CEO CZ to support Terra community but expects more transparency⬆ +13 Binance CEO CZ to support Terra community but expects more transparency $ LUNA terra cryptocurrency

Binance CEO CZ to support Terra community but expects more transparencyWhile showing support for the Terra community, CZ highlighted the need for “more transparency,' including details about specific on-chain transactions (transaction ids) of all the funds. Funny from CZ. Swipe, Venus, SafePal... same shitcoins without value and need to use. All minus and many losses of user capital. Don't believe everyone. It's just a big business. We need for total transparency from Binance for their “Proof of Assets” for their BSC-DOGE token supply! LUNA NEEDS TO LEARN TRANSPARENCY FROM Bleufiofficial . THE NFT BEST MARKETPLACE . GOING TO TAKE OVER BSC 🚀

Terra fork won't work, says Binance CEO Changpeng ZhaoBinance CEO Changpeng Zhao doesn't think Terra's plan of forking the blockchain will work because it won't provide any value. Yogita_Khatri5 until same Yogita_Khatri5 note stretch slow thank wait Yogita_Khatri5 I thing the terra team has no capability to run luna coin, it should be handover to CZ, he is the only person who run this coin again..

Crypto Billionaire Says Terra Wasn’t as Bad as TheranosDo Kwon’s failed stablecoin is not necessarily a Ponzi scheme, according to Sam Bankman-Fried He said that because he made money.

Terra (LUNA) trading volume surge 200% as market adjusts to death spiral'Revival plan' vs. 'insane volatility': $ LUNA trading volume bounces back to nearly $6 billion. Cool! Yes we need to save $luna. Save $luna, save entire crypto market. This is critical for all at this stage. 💯 Death rattle it will survive, hodl and RecoverLunaLoss

What Happened to the $3.5B Terra Reserve?What Happened to the $3.5B Terra Reserve? Blockchain analytics firm elliptic has been following the money. IanAllison123 elliptic IanAllison123 bitcoin collapsed because of this this is best elliptic IanAllison123 I think anyone panic selling because of the dip, has no idea what they are holding in the first place. You should take some quantity and trade than selling. We should focus on day trading, as it is less affected by the unpredictable nature of the market. continue reading👇👇👇 elliptic IanAllison123