5 trillion supply impossible it will go up dont west time and money
Anwar khayal
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Bullish
The collapse of Do Kwon and formerly LUNA: known $LUNC {spot}(LUNCUSDT)
- born in Seoul in 1991 - top student, attends Daewon Foreign Language High School - moves to the US and gets into Stanford - works as software engineer at Microsoft - returns to South Korea - founds Anyfi, a P2P mesh networking startup
2018–2021: Terraform Labs arc
- cofounds Terraform Labs in 2018 with Daniel Shin - launches Terra blockchain and LUNA token - raises over $200M from VCs
2020–2022: UST and rapid growth
- launches TerraUSD (UST), an algorithmic stablecoin - UST uses a burn-mint mechanism with LUNA - Anchor Protocol offers ~19.5% APY on UST deposits - LUNA reaches around $116 in April 2022
May 2022: the collapse
- over $2B UST withdrawn from Anchor - liquidity removed from Curve pools - UST loses its dollar peg - Luna Foundation Guard sells Bitcoin reserves to defend it - reserves are exhausted •UST falls to fractions of a dollar - around $40B in market value is liquidated - >1 million investors affected
March 2023: arrest
- arrested in Montenegro - attempted to travel using a forged passport - sentenced to prison in Montenegro - extradition battle begins between US and South Korea
2024: escalation
- Terraform Labs files for Chapter 11 bankruptcy - US jury finds Terraform Labs and Do Kwon guilty of securities fraud - civil penalties exceed $4.5B - Montenegro approves extradition to the US
2025: the sentence
- pleads guilty to wire fraud and conspiracy - admits misleading investors about UST stability - agrees to forfeiture of $19M - 15 years in federal prison - judge calls it a fraud of generational scale
Terra remains one of the biggest collapses in crypto
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