UST’s Do Kwon Was Behind Stablecoin’s Failure, Former Terra Colleagues Say

“Yo degens, anyone remember what Basis was? It was one of the first “DeFi” algorithmic stablecoins with big ambitions, but it was shut down due to SEC risks,” said said Rick’s since-deleted Telegram account on the Basis Cash Telegram channel on August 20, 2020. “Today we raise Basis from the grave.

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