As with every cryptocurrency bust, thousands of investors who thought they had discovered a get-rich-quick scheme are now finding they have lost almost all their money. Some are waiting for Kwon to step in with a rescue package, but others have lost faith in the project entirely.
Now, some are asking, if Terra could drop from a market cap of more than $45bn to less than $5bn in two days, what else in the system is on shaky territory? Could USDC or Tether collapse in a similar way? And if they went, what else would follow? The collapse of Terra may not turn out to be a Lehman Brothers for the cryptocurrency world, but it shows what it could look like.
