Doctor-Strange
--
🚨🚨 The $40B Disaster That Shook the Entire Market
The day LUNA hit $0.
$40B gone overnight.
Billions wiped out, lives shattered.
A brutal reminder of crypto’s risks
Do Kwon and Daniel Shin created Terra
A blockchain designed to change payments with stablecoins.
During 2022 Terra’s tokens, LUNA and UST gained major attention in crypto
Attracting many investors.
TerraUSD (UST) was an algorithmic stablecoin tied to the US dollar
Relying on LUNA tokens to keep its value stable.
Instead of being backed by physical assets like traditional stablecoins
UST used algorithms and market systems to maintain its price.
The Anchor Protocol promised up to 20% yearly returns on UST deposits
Becoming the core of Terra.
This big return drew in most of UST, making up 75% of its supply
But many questioned if it could last.
The worst predictions came true.
In the first week of May 2022
Over $2 Nillion of UST was withdrawn and sold.
This sell-off caused UST to lose its $1 peg
Sropping to $0.91 and triggering panic
Which made things even worse.
Top exchanges removed LUNA and UST
And Terra blockchain was shut down for a while.
The crash caused $60 billion in losses across crypto.
Big companies like Voyager, Celsius, and Three Arrows Capital went bankrupt or had to shut down.
After the collapse
Terra Foundation Guard used billions in Bitcoin reserves to save UST
But it failed.
Do Kwon’s attempts to revive Terra with Terra 2.0 also failed to restore trust.
In March 2023
Do Kwon was arrested in Montenegro for using fake documents.
He got four months in prison for forgery.
Now South Korea and the US want him sent back to face charges.
The LUNA crash shows how risky algorithmic stablecoins and high returns can be.
It highlights the need for clear rules, better risk management, and transparency in crypto.
Do you think something like this will happen again?
$LUNC
$LUNA
#BinanceHODLerLINEA #BinanceAlphaAlert #BinanceHODLerOPEN #NasdaqTokenizedTradingProposal #AltcoinMarketRecovery
$40B gone overnight.
Billions wiped out, lives shattered.
A brutal reminder of crypto’s risks
Do Kwon and Daniel Shin created Terra
A blockchain designed to change payments with stablecoins.
During 2022 Terra’s tokens, LUNA and UST gained major attention in crypto
Attracting many investors.
TerraUSD (UST) was an algorithmic stablecoin tied to the US dollar
Relying on LUNA tokens to keep its value stable.
Instead of being backed by physical assets like traditional stablecoins
UST used algorithms and market systems to maintain its price.
The Anchor Protocol promised up to 20% yearly returns on UST deposits
Becoming the core of Terra.
This big return drew in most of UST, making up 75% of its supply
But many questioned if it could last.
The worst predictions came true.
In the first week of May 2022
Over $2 Nillion of UST was withdrawn and sold.
This sell-off caused UST to lose its $1 peg
Sropping to $0.91 and triggering panic
Which made things even worse.
Top exchanges removed LUNA and UST
And Terra blockchain was shut down for a while.
The crash caused $60 billion in losses across crypto.
Big companies like Voyager, Celsius, and Three Arrows Capital went bankrupt or had to shut down.
After the collapse
Terra Foundation Guard used billions in Bitcoin reserves to save UST
But it failed.
Do Kwon’s attempts to revive Terra with Terra 2.0 also failed to restore trust.
In March 2023
Do Kwon was arrested in Montenegro for using fake documents.
He got four months in prison for forgery.
Now South Korea and the US want him sent back to face charges.
The LUNA crash shows how risky algorithmic stablecoins and high returns can be.
It highlights the need for clear rules, better risk management, and transparency in crypto.
Do you think something like this will happen again?
$LUNC
$LUNA
#BinanceHODLerLINEA #BinanceAlphaAlert #BinanceHODLerOPEN #NasdaqTokenizedTradingProposal #AltcoinMarketRecovery
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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