Off-Chain 5-12-22: The monumental UST de-peg and $4bn Bitcoin short position that's melting down the market
The Decrypting Crypto Podcast
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The Price of Luna Dropped 25 % From 40 to 32 K Mark
The price of luna dropped 25% from 40 k to around 32 k. Now it's under 30 k, and people are unwilling to burn us t for luna. This causes a bank run on us t as there's no clear path to restoring the peg in sight. The attacker can buy back their entire position with about 800 million dollars in profit.
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