What Is terra.jpg.optimal Terra Like A Crypto Pyramid Scheme, Says Activist Investor Bill Ackman

Terra Like A Crypto Pyramid Scheme, Says Activist Investor Bill Ackman

– Bill Ackman called Terra a crypto version of a pyramid scheme, due to the protocol’s recent value loss
– Ackman believes that the lack of a fundamental business backing Terra’s UST stablecoin is the most telltale sign of a pyramid scheme
– Ackman’s comments come in the wake of the Terra blockchain losing most of its value in the span of a few days, as the de-pegging of its UST stablecoin caused a massive bank run
– The Pershing Square founder praised blockchain as being a “brilliant technology,” but added that projects like Terra gave the space a bad name
– Ackman called for more self-regulation by the crypto industry, especially towards businesses that have no underlying businesses backing their tokens

 

 

terra luna Terra Like A Crypto Pyramid Scheme, Says Activist Investor Bill Ackman
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