Terra Fallout: “Algorithmic Stablecoins Destined to Fail”

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Following the crash of Terra (LUNA), REITS analyst Rob Simone and Hedgeye CEO Keith McCullough discuss the allegations brought against Terra founder Do Kwon for unloading $2.7 Billion before its collapse.

“People were calling this out as an obvious scam and Ponzi scheme going back to the fall of last year,” explains Simone. “Algorithmic stablecoins don't work, they're destined for failure, they're reflexive to the downside… just stay away because it’s garbage and it’s a scam.”

“That’s disgusting, and people who want to say, ‘oh you’re getting personal,’ you’re f***ing right we’re getting personal. People just lost everything they had.”

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