Luna backer Su Zhu says UST collapse is Terra’s DAO hack moment

– Three Arrows Capital co-founder Su Zhu has acknowledged that a number of things went wrong with the stablecoin TerraUSD (UST) and its related token Luna.

– Zhu noted that critics had flagged the potential risks and said that the ecosystem should have moved more slowly.

– He also said that criticisms of blockchain projects should not be dismissed and that any such criticisms should be met with actual refutations.

– Earlier this month, Zhu had encouraged his Twitter following to take out loans using their bitcoin as collateral to buy UST and stake in Anchor Protocol.

– As for the blockchain itself, Zhu said, “This is Terra’s DAO hack moment.”

 

 

20200421 Three arrows capital Luna backer Su Zhu says UST collapse is Terra's DAO hack moment
Luna backer Su Zhu says UST collapse is Terra's DAO hack moment 2

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