Terra stablecoin collapse was ‘entirely predictable,’ Circle CEO says

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Yahoo Finance published this video item, entitled “Terra stablecoin collapse was ‘entirely predictable,’ Circle CEO says” – below is their description.

#Terra #stablecoin #crypto

Circle CEO Jeremy Allaire joins Yahoo Finance Live anchors Brad Smith and Julie Hyman to discuss the collapse of stablecoins like Terra, the cryptocurrency sell-off, crypto regulation, and the outlook for crypto exchanges.

Yahoo Finance YouTube Channel

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In This Story: Stablecoin

Stablecoins are cryptocurrencies where the price is designed to be pegged to a cryptocurrency, fiat money, or to exchange-traded commodities.

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In This Story: Terra

Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements.

Terra’s native token, LUNA, is used to stabilize the price of the protocol’s stablecoins. LUNA holders are also able to submit and vote on governance proposals, giving it the functionality of a governance token.

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