Transcript Ep. 352: Why Terra Collapsed and Whether an Algo Stablecoin Can Ever Succeed
Hi, everyone. Welcome to Unchained, your no-hype resource for all things crypto. I'm your host, Laura Shin, author of The Cryptopians. I started covering crypto seven years ago, and as a senior editor at Forbes was the first mainstream media reporter to cover cryptocurrency full-time. This is the May 17, 2022, episode of Unchained.
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Today's topic is what went down this week with TerraUSD and LUNA. Here to discuss are Nic Carter of Castle Island Ventures, Eric Wall, Chief Investment Officer at Arcane Assets, and Erik Voorhees of ShapeShift. Welcome, Eric, Erik, and Nic.
Hello. Thank you very much.
So, we're doing something unusual. As I mentioned earlier, we're livestreaming this podcast episode because events have been moving so quickly when it comes to Terra/LUNA that I felt the podcast might be somewhat outdated by the time it comes out on Tuesday. So, let's just start with what opinion each of you had about the Terra/LUNA ecosystem, and I'm saying like before the depeg happened, or it could even be your opinion of algorithmic stablecoins in general. Why don't we start with you, Erik Voorhees.