Understanding the $40 Billion Luna Implosion: A Play-by-play
Breakdown of the Luna UST Crash
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Last week, roughly $18B of value in the algorithmic stablecoin UST and $40B in the cryptoasset Luna were effectively wiped, with its impact rippling across the entire crypto asset class.
Many in the crypto space - let alone those outside - are still trying to put the pieces together to examine just how we managed to destroy an entire ecosystem over the course of a week.
We scoured the internet and put together what we think is a definitive timeline of major events below for Blockcrunch VIP subscribers.
We also spoke to Galois Capital - the hedge fund that sounded the alarm on Luna as early as January - on how they executed their Luna and UST short.
That conversation is available for free for all subscribers here.