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Difference between revisions of "LUNA Collapse in May 2022"
Added promotors and investors section. The intent is to make it clear to posterity that large respected VCs, influencers and others considered experts were heavily invested and lost both their own and client funds.
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(Added promotors and investors section. The intent is to make it clear to posterity that large respected VCs, influencers and others considered experts were heavily invested and lost both their own and client funds.) |
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It was revealed that Do Kwon was the founder of a previous failed stablecoin, [[Basis Cash]].<ref>https://www.coindesk.com/tech/2022/05/11/usts-do-kwon-was-behind-earlier-failed-stablecoin-ex-terra-colleagues-say/</ref> | It was revealed that Do Kwon was the founder of a previous failed stablecoin, [[Basis Cash]].<ref>https://www.coindesk.com/tech/2022/05/11/usts-do-kwon-was-behind-earlier-failed-stablecoin-ex-terra-colleagues-say/</ref> | ||
== Investors and Promotors == | |||
Several promotors and VCs suffered large losses. The exact amounts has been difficult to verify | |||
* Arca - Published investor letter in May 2022, describing the depeg as a buying opportunity<ref>https://www.coindesk.com/business/2022/05/11/crypto-fund-arca-doubled-down-on-ust-amid-stablecoins-collapse/</ref> | |||
* Delphi Digital - Rumors of $500m loss<ref>https://members.delphidigital.io/reports/mapping-the-moon-an-overview-of-terras-ecosystem/</ref> | |||
* Arrington Capital - $100m UST yield fund<ref>https://twitter.com/CoinDesk/status/1524506527368888320</ref> | |||
== Sources == | == Sources == | ||
<references /> | <references /> | ||
[[Category:History]] | [[Category:History]] | ||