Binance CEO: The Entire LUNA/UST Incident May Have Been Avoided if the LFG Used Their Reserves when the De-peg was at 5%

Quick take: CZ believes that UST’s depegging and massive LUNA inflation could have been avoided had the LFG deployed its reserves when the de-peg was at 5%. According to CZ, the Terra team was very slow and infrequent in communicating with the community during the crisis. He also stated he has mixed feelings about the ongoing revival plans to fork the Terra chain. CZ is, however, optimistic about the resilience of the crypto industry. Binance CEO, Changpeng Zhao, has shared […]