Cryptocurrency mogul SBF_FTX believes that terra_money shouldn’t be compared to theranos
The FTX boss says that Terra was a case of “mass enthusiasm” and “excitement” with bad marketing, dismissing the idea that it was a Ponzi scheme.
Elizabeth Holmes’s blood-testing startup was pitching a revolutionary technology that could run a slew of tests on a single drop of blood. Holmes was convicted of fraud in January for hoodwinking investors. Her lawyers failed to convince the juries that she genuinely believed in the technology., the LUNA token collapsed to virtually zero days after the TerraUSD stablecoin lost its peg. The tokens were supposed to work in tandem. However, now that it is virtually impossible for UST to regain its peg, the project is almost certainly a failure.
Given that Kwon is very likely to face plenty of legal troubles, his lawyers will have to make a compelling argument that the controversial founder wasn’t trying to fool the public with his statements about Terra and actually believed in the project despite reportedly having links to failed stablecoin Basis Cash.
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