🚨 The
#DoKwon vs Jane Street debate is WILD again 👀
Crypto Twitter is acting like one new lawsuit changed the history of the
$LUNA / $UST collapse overnight 😭
Now everywhere I look it’s:
“Free Do Kwon”
“Jane Street caused everything”
“Terra was attacked”
But if we’re being real for a second… the truth is probably more complicated than CT admits. ⚠️
Here’s what ACTUALLY happened:
• Terraform’s bankruptcy estate accused Jane Street of potentially using insider information tied to UST trading.
• The lawsuit claims Jane Street allegedly exited around $192M in UST before the depeg and later profited during the collapse.
• Jane Street denied wrongdoing and is fighting the allegations.
• No court has officially ruled that Jane Street “caused” the Terra collapse.
At the same time:
• Courts already found Terraform Labs & Do Kwon liable for fraud-related conduct.
• Terra’s algorithmic stablecoin model already had major structural weaknesses before panic started.
So no… this isn’t some simple movie where there’s one villain and one innocent hero 😅
My take? 👇
Could large firms have accelerated the collapse or profited from chaos?
Honestly… yeah, possible.
But pretending Terra itself had zero flaws is just rewriting history.
The collapse was probably a brutal combination of:
⚠️ Weak algorithmic design
⚠️ Liquidity death spiral
⚠️ Market panic
⚠️ Aggressive trading pressure
⚠️ Massive loss of confidence
And once confidence disappeared… everything collapsed FAST. 💀📉
That’s what made Terra one of crypto’s biggest disasters ever.
People online want easy answers badly:
“Do Kwon evil”
or
“Jane Street evil”
Reality? Markets are usually messier than that.
Maybe multiple parties share responsibility. Maybe we still don’t know the full story yet.
But one thing is certain:
The Terra collapse permanently changed how people view algorithmic stablecoins forever.
What do YOU think? 🤔
Bad design, market manipulation… or both?
$LUNC $USTC #LUNC #USTC #TerraClassic #LUNA