LUNA meltdown sparks theories and told-you-sos from crypto community
– Do Kwon, CEO of Terraform Labs and 18th on Cointelegraph’s Top 100, has lost billions of dollars for their investors.
– The LUNA price has crashed by 97%, while the stablecoin TerraUSD (UST) has fallen 75% below its intended dollar parity.
– There is speculation that the attack on UST was a coordinated attack by Citadel Securities.
– However, this remains only speculation at this time.
– Tree of Alpha has described the UST collapse as “by far, the biggest Ponzi death spiral collapse in the history of Crypto, by a factor of 16.”
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