Delphi Digital admits ‘we were wrong’ on Terra stablecoin risks
Crypto-focused research and investment group Delphi Digital has published a post-mortem on the losses inflicted by last week’s collapse of TerraUSD (UST) algorithmic stablecoin, concluding that it “always knew something like this was possible.” “We understood the risks of the algorithmic model upfront and sought to be transparent about them throughout; however, it’s clear we miscalculated the risks,” Delphi wrote in a blog post late Wednesday. “To the vocal critics of Terra’s algorithmic design — you were right and we …