Energy

Who got rich before Terra stablecoin collapsed?

0


WASHINGTON — In May, the collapse of one of the most popular U.S. dollar-pegged stablecoin projects cost investors tens of billions of dollars as they pulled out in a panic that some have compared to a bank run. But before that, the stablecoin known as terraUSD (or UST, for short) and its sister token luna, had experienced a pretty spectacular run-up — and some investors made a killing before it all collapsed.

Venture capital firm Pantera Capital tells CNBC it earned a 100-fold return on its $1.7 million investment in luna. Hack VC and the Winklevoss-backed CMCC Global didn’t share their exact gains, but CMCC told CNBC that it closed its luna position in…



Source cnbc.com

0 0 votes
Article Rating

3 takeaways from Dollar General, Dollar Tree earnings that sent stocks soaring

Previous article

How to tap into your home’s equity if you aren’t ready to sell

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Energy