Famous Investor: I also bought this altcoin, but lost it!

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The TerraUSD (UST) stablecoin and the ecosystem it supports ceased to exist with the collapse of Terra Luna. Su Zhu, co-founder of Three Arrows Capital, one of the investors in altcoins, shares that he ignored all the alarms and also suffered huge losses.

Suu Kyu weighs in on Luna and UST’s collapse

On Friday, UST, the stable coin of the Terra ecosystem, lost price stability. LUNA’s constant pressure to bring him back was ineffective, but rather contributed to the fall of Terra. Investors lost $106 million on Terra LUNA when the price dropped below $7. 58% of investors considered these levels to be the bottom and took an upward position. One of the first investors was Su Joo, co-founder of Three Arrows Capital. When Collapse Terra founder Do Kwon comes to threats, there is an explosion of anger on social media. Suu Kyu, on the other hand, has broken his silence on the collapse of TerraUSD (UST) and Luna, the ecosystem he supports. He shared that he also lost a lot of money:

Zhu admits that something went wrong. He says critics have already pointed out the potential risks and should move more slowly in the hope of making the ecosystem safer. He also adds that criticism of projects caught in the FUD trap should not be discounted. Instead, according to Zhu, he should be encouraged, and such criticism should be treated with caution, not with disdain.

Su Joo Apologizes to Her Critics, Admitting She Needs to Be More Careful with Altcoins

Earlier this month, Zhu urged his Twitter followers to use their bitcoins as collateral for the loans they received. Instead, he offered to invest 18-20% of the proceeds in UST and Anchor Protocol shares. This advice will cost dearly to anyone who does not sell their shares, and will make it impossible to repay the debt. This tweet was later deleted by Zhu.