๐ The crash #Terra might not have been so "unexpected"
New court documents have revealed an interesting story:
Terraform Labs allegedly leaked crucial information to traders at Jane Street through a private Telegram chat called "Bryceโs Secret" ๐ถ
From there, things look pretty grim for regular holders:
โซ๏ธ Before the de-peg of TerraUSD, Jane Street allegedly dumped tokens worth around $192 million near the $1 level
โซ๏ธ After that, they managed to rake in around $134 million on shorts during the market plunge
So while the crowd kept believing in the "algorithmic stablecoin" and Do Kwon's tales of a resilient system, some were already gearing up to exit their positions beautifully ๐ญ
If these materials are confirmed, the story of Terra will turn into not just a "black swan" event, but another example of how the big players get wind of problems well ahead of the market.
Ps: In crypto, the most dangerous indicator isn't the chart, but a closed Telegram chat that you weren't invited to ๐ฌ
#Terra #UST #LUNA #JaneStreet
๐ Follow for the dirtiest insider info, schemes, and analyses of the crypto market without filters.
New court documents have revealed an interesting story:
Terraform Labs allegedly leaked crucial information to traders at Jane Street through a private Telegram chat called "Bryceโs Secret" ๐ถ
From there, things look pretty grim for regular holders:
โซ๏ธ Before the de-peg of TerraUSD, Jane Street allegedly dumped tokens worth around $192 million near the $1 level
โซ๏ธ After that, they managed to rake in around $134 million on shorts during the market plunge
So while the crowd kept believing in the "algorithmic stablecoin" and Do Kwon's tales of a resilient system, some were already gearing up to exit their positions beautifully ๐ญ
If these materials are confirmed, the story of Terra will turn into not just a "black swan" event, but another example of how the big players get wind of problems well ahead of the market.
Ps: In crypto, the most dangerous indicator isn't the chart, but a closed Telegram chat that you weren't invited to ๐ฌ
#Terra #UST #LUNA #JaneStreet
๐ Follow for the dirtiest insider info, schemes, and analyses of the crypto market without filters.