Recent terraces, miscellaneous thoughts while watching the Terra/Luna and maybe Tether? (Completely cerebral)

1. Last week, I saw a few projects by a team of very talented friends on the web3. One of them designed an impressive hybrid DeFi protocol for stability and profitability, which was outstanding in both skill and experience. However, I saw some problems and recommended thinking about them. The main point was that the Crypto Community was the target of stability they were talking about. Rather than trying to expand participants with that much stability, raise your level of awareness to a level that could convince some of the people in traditional finance. For example, Terra’s Anchor Protocol was the standard of stability. We didn’t assume that the Anchor Protocol would collapse or the Terra ecosystem would collapse. This is the biggest problem, so study past LTCM situations and see what you can do in those cases. Surprisingly, they were ignoring very rare risks because their belief in Crypto was so high. That happened in less than a week. You must have learned a lot from this incident, right?
2. For months, the US SEC has continuously raised questions about the stability of stablecoins. It has threatened that regulations may be introduced, but the majority have predicted that it will be a regulation that collateralizes US government bonds. With the USDC, which is already invisiblely supported by the US Deposit Insurance Corporation, Coinbase, and FTX, and Wall Street’s traditional financial community, it seems that preparations for this are being made step by step. As always, what’s wrong with the crypto community? With the same atmosphere, it seemed that they were taking a stance toward responding to regulations when they actually proceed or were announced. However, a lot of money that seemed to be funds from the US Wall Street began to move over the past few days, and when short positions for USDT and UST became possible in FTX and others, they began to attack their vulnerabilities in earnest. As if protesting, “Didn’t you hear the brothers? You said this is still a lot of vulnerabilities. I’ll show you how vulnerable…” Through this situation, many people, including the general public, have now questioned the stability of stablecoins, and the SEC and others feel that they have naturally secured legitimacy in implementing regulations as originally planned.
3. It could be just a sudden situation, or because the macro is so bad, it could be dismissed as an event that could just happen. However, I think it’s a series of events that show their ability that the existing Wall Street financial powers centered on the United States have already dominated a lot of hegemony to the extent that they can now dominate the cryptocurrency community. Despite calling for decentralization, it seems that the digital infrastructure is formed to some extent, but it is a process that the existing US-centered financial powers take control of it as it is. It was more of a war than a market…