This man caused multibillion dollar crypto collapse 📉 #shorts

Last week, Luna Foundation Guard spent virtually all of its bitcoin reserves in a failed attempt to save terraUSD.

TerraUSD, or UST for short, has plummeted far below its $1 target. It was trading at just 9 cents on Monday.

Do Kwon, the developer of Terra, had promised to adopt bitcoin if the value of UST fell dramatically.

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#UST #stablecoin #shorts

Source:
https://www.cnbc.com/2022/05/16/what-happened-to-the-bitcoin-reserve-behind-terras-ust-stablecoin.html

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