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A comment on Crypto-failure Terraform Labs to cough up $4.5B, liquidate self. Parent comment

Re:Crypto-failure Terraform Labs to cough up $4.5B, liquidat... by vizzier on Wednesday June 26, 2024 @03:25PM (#40803587)
It sounds a lot like this https://en.wikipedia.org/wiki/Black_Wednesday basically use short positions to trade against the real value of the currency while selling at the "pegged" price pocket the difference. If a G7 currency can't guard against this type of attack then can a crypto service expect to compete?
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Re:Crypto-failure Terraform Labs to cough up $4.5B, liquidat... by anon291 on Thursday June 27, 2024 @12:58AM (#40807390)
At the end of the day the only thing that really matters for currency valuation is who sits on the right end of the barrel of very large guns.
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Re:Crypto-failure Terraform Labs to cough up $4.5B, liquidat... by bobthepanda on Thursday June 27, 2024 @12:39PM (#40812401)
Didn't seem to help the UK much during Black Wednesday.
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Re:Crypto-failure Terraform Labs to cough up $4.5B, liquidat... by anon291 on Thursday June 27, 2024 @02:13PM (#40813368)
UK clearly doesn't have large enough guns. /s

I joke, but realistically, the UK has not gone the way of Terraform of FTX, so ...

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