Terra's stablecoin wasn't so much a scam as it was built on a house of cards. They backed it with their own coin and a dynamic mint/burn algorithm, basing it al

Terra's stablecoin wasn't so much a scam as it was built on a house of cards. They backed it with their own coin and a dynamic mint/burn algorithm, basing it all on the assumption that they'd never have that kind of crisis. In the end tho they did and it became a feedback loop. Circle's treasury is (iirc) 1:1 with USD and T-Bills. If those fail the way Luna did then there are bigger things to worry about.