Do Kwon

Terraform Labs Halts Terra Blockchain After Complete Collapse of UST and LUNA Destroys $40 Billion

2022-05-13 00:00:00 +0000 UTC | Importance: 10/10

Terraform Labs, led by Do Kwon, temporarily halted the Terra blockchain on May 13, 2022, after a catastrophic four-day collapse that wiped out nearly $45 billion in market capitalization and devastated hundreds of thousands of retail investors globally. LUNA, which traded at $119 in April and $87 on …

Do Kwon Terraform Labs Securities and Exchange Commission (SEC) CFTC Paul Engelmayer +2 more crypto regulatory-capture fraud stablecoin systemic-risk +4 more

Terra's UST Algorithmic Stablecoin Loses Dollar Peg, Triggering $40 Billion Death Spiral and Crypto Market Crash

2022-05-09 00:00:00 +0000 UTC | Importance: 10/10

TerraUSD (UST), the fourth-largest stablecoin with $18 billion market capitalization, began losing its dollar peg on May 7-9, 2022, triggering a catastrophic “death spiral” that would destroy $40 billion in value within days and crash the broader crypto market. The algorithmic …

Do Kwon Terraform Labs Securities and Exchange Commission (SEC) CFTC Janet Yellen +3 more crypto regulatory-capture fraud stablecoin systemic-risk +3 more