RE: Luna Got Rekt, Bitcoin Reserve Comes into effect
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they still have plenty of Bitcoin and AVAX but this is why they should have backed their stable coin with Gold not Bitcoin.
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I guess gold would have helped marginally more from a purely psychology of safety standpoint, but I believe that would still have been negated by the signaling induced by just using it. Bad look in my opinion. Should have happened at a preset and advertised point so no one was surprise and thought OMG they're scared!
I have no dog in this hunt, but as an outsider I thought "oh crap! They are really worried"
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