A third-party audit by consultancy firm JS Held suggests that LFG_org spent $2.8 billion defending the UST peg in May. Reporting by oknightcrypto.
“While there have been multiple recent failures in crypto, it is important to distinguish between Terra’s case, where a transparent, open-source decentralized stablecoin failed to maintain peg parity and its creators spent proprietary capital to try to defend
it, and failure of centralized custodial platforms where its operators misused other people’s money for financial gain," said Do Kwon, Terraform Labs founder.Corrects location of JS Held headquarters, an earlier version of the story said it is based in London.
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