Prominent economist Raul Pal radically changed his stance after the collapse of Terra (LUNA)
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- “I never understood it”: LUNA. on Raul Pal
- Exchanges and Services will not support Terra 2.0
Investor and economist Raul Pal, the founder of the Real Vision media platform, denies the fact that he backed LUNA, the native cryptocurrency of the collapsed blockchain Terra. Crypto Twitter recommends that he not delete his earlier tweets – however he wishes.
“I never understood it”: LUNA. on Raul Pal
Crypto enthusiast @PeterParadoxGG shared on Twitter that he had saved around $500,000 in Terra (LUNA) following recommendations from Raul Pal and Mike Novogratz. Then, the token dropped to almost zero values.
I’ve never owned it, recommended it or even understood it…
— Raul Pal (@RaoulGMI) 25 May 2022
Responding to his tweet, Mr Pal claimed that he personally did not own Terra (Luna), never recommended it and did not even understand how it worked.
Twitter users immediately began retweeting Mr. Pal’s pro-Luna statements. For example, exactly six months ago, he called Solana, Polkadot, Avalanche and Terra his favorite large-caps.
Large of – SOL, LUNA, DOT and AVAX
— Raul Pal (@RaoulGMI) November 25, 2021
Additionally, he made a similar statement on March 10, 2022, calling LUNA a “good” token. One of his followers attached a video of Raul Pal’s November interview with Hejiye, where he also called Solana and Terra viable alternatives to Ethereum (ETH).
Exchanges and Services will not support Terra 2.0
Mr Pal denied all allegations, claiming that his quotes were taken out of context. He reiterates that he does not invest in DeFi, as he does not fully understand it.
As previously covered by U.Today, LUNA and related stablecoin TerraUSD (UST) collapsed following a massive withdrawal from the Anchor Protocol (ANC) yield farming module.
Do Kwon of TerraForm Labs proposed several plans to restore Terra (LUNA), including launching a new blockchain. However, some services said they would not support the new network.