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Published 2 years ago

Binance promoted terra as ‘safe’ investment before $40bn collapse

Summary by Ground News
Binance touted a lending program on the messaging platform Telegram on April 6. The scheme would see customers stake Terra tokens for a yield of 20%. The fall of Terra USD, an algorithmic stablecoin, saw investors lose upwards of $40 billion. Binance later updated a website that the message linked to with a statement that added crypto trading "is subject to high market risk"

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