Crypto Startup Tries to Claw Its Way Back From Luna Disaster
- Value locked on DeFi protocol Stader plunged after Terra crash
- ‘We had a 40% hit on revenues,’ co-founder Amitej Gajjala says
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The implosion of the algorithmic stablecoin TerraUSD and its sister Luna token sent shock waves through the cryptosphere, crashing prices and roiling the entire ecosystem behind the coins.
The fallout reached across geographies, too. Stader Labs, based in Bengaluru, India, is among the many crypto startups that were engulfed by the crisis.