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Hashed loses more than $3.5 billion, Delphi loses $10 million after Terra’s collapse

Reports revealed that Hashed and Delphi suffered severe losses as they lost an estimated $3.5 billion and $10 million respectively in the wake of Terra’s collapse.

The historic collapse of the Terra ecosystem has caused a number of investors and large funds to suffer heavy losses.

The two major funds that have backed Terra, Hashed and Delphi Digital, have revealed how the huge loss affected their balance sheets.

Delphi Digital, a leading crypto research firm, wrote that it was worried about the UST and LUNA structure in a blog.

The only confidence is that Luna Foundation Guard can help prevent such a situation.

We always knew something could happen and we tried to emphasize the risks to a system like this in our studies and commentary, but the reality was that we miscalculated the risks. The chance of a “death spiral” event is about to come true. The criticism is fair and we accept it”.

The fund wrote that it purchased LUNA for 0.5% of its net asset value and increased its holdings as LUNA’s value increased.

Delphi reported a $10 million investment in LUNA in February 2022, now the number is zero.

Hashed, a venture fund based in San Francisco and Seoul is another big backer of Terra.

The company helped Terra raise $25 million in a 2021 funding round.

Reports from on-chain data show that the Hashed fund has invested approximately 27 million LUNA on the Columbus 3 mainnet, 9.7 million on the Columbus 4 mainnet and 13.2 million on the current Columbus 5 mainnet.

CoinMarketCap‘s analysis of valuation data from April shows an estimated loss of $3.5 billion.

The extent of the impact of Luna’s demise remains unclear. But it is clear that the number of people affected remains high.