Changpeng Zhao (CZ), the founder of Binance, recently commented on Do Kwon, the creator of Terra (Luna). CZ said Do Kwon had a good idea but made big mistakes in carrying it out.

Do Kwon's plan was to build an algorithmic stablecoin called UST. This was meant to stay worth $1 without needing banks or real money backing it — just using smart code and the Luna token to keep the price stable. It sounded exciting and new for crypto.

But things went wrong badly. In 2022, UST lost its $1 value, Luna's price crashed to almost zero, and billions of dollars disappeared. It was one of the biggest failures in crypto history, hurting many investors.

After the collapse, the old system became Terra Classic with tokens LUNC (old Luna) and USTC (old UST). The community is trying to rebuild and learn from the errors.

CZ's words remind everyone that a great idea needs careful planning and strong execution to succeed. Today, prices reacted negatively: LUNC down about 6%, USTC down around 5%. $LUNC