Ethereum (CRYPTO: ETH) co-creator Vitalik Buterin weighed in on the disaster that saw Terra (CRYPTO: LUNA) and its algorithmic stablecoin TerraUSD (CRYPTO: UST) collapse last week.
What Happened: In a tweet on Saturday, Ethereum educator Anthony Sassano suggested the cryptocurrency industry should “stop experimenting” with Ponzis, algorithmic stablecoins, yield farming, and other “unsustainable nonsense,” and focus on blockchain applications in other areas like decentralized identity and public goods funding.
His post drew support from Buterin, who said he agreed “hard on this.”
Agree hard on this, with the …
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