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Feature: Hashed Wallet Takes $3.5B Hit; Delphi Discloses Loss After Terra Collapse

Feature: Hashed Wallet Takes $3.5B Hit; Delphi Discloses Loss After Terra Collapse

The fall apart of the tokens associated with the Terra ecosystem, stablecoin terraUSD (UST) and luna (LUNA), has precipitated some maximum crucial customers coming smooth and detailing their losses.

Take Hashed, an early-stage project fund based totally absolutely in Seoul, South Korea. The enterprise accomplished a detail in Terra’s 2021 project round, wherein it helped raise $25 million, in keeping with Crunchbase records.

“We had been straight away stimulated with the sophistication of their mechanical format and execution speed,” Hashed wrote about Terra in 2019.

Publicly, Hashed has said that they are “financially sound” and Hashed Ventures has now now not been stricken by the crisis.

But on-chain records suggests that the enterprise had staked over 27 million in LUNA on the Columbus 3 mainnet, 9.7 million in LUNA for the Columbus 4 mainnet, and 13.2 million in LUNA on the cutting-edge Columbus 5 mainnet. Hashed did not respond to a request for observation from CoinDesk via press time.

Delphi Digital, a research enterprise and boutique investor, admitted in a blog put up that it continuously had problems about the form of UST and LUNA, but believed that the first-rate property found withinside the Luna Foundation Guard would possibly prevent the unthinkable from happening.

“but the truth is we miscalculated the risk of a ‘lack of existence spiral’ event coming to fruition. We’ve taken some warm temperature for this over the last week, and we deserve it. The criticism is straightforward and we take transport of it,” the enterprise wrote.

Feature: Hashed Wallet Takes $3.5B Hit; Delphi Discloses Loss After Terra Collapse : Feature: Hashed Wallet Takes $3.5B Hit; Delphi Discloses Loss After Terra Collapse

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