ROLLUP: Crypto Bear Market? UST Luna Collapse. Instagram NFTs. Coinbase Bankruptcy? Bankless Youtube Ban.
Bankless
00:00
The Downfall of UST and Luna: Lessons Learned
This chapter explores the catastrophic collapse of the UST stablecoin and its counterpart Luna, detailing the subsequent market turmoil and severe financial losses for investors. It highlights the role of external attacks in exacerbating the collapse and reflects on the emotional toll experienced by the crypto community. The discussion emphasizes the importance of learning from this downfall and fostering a culture of constructive criticism within the cryptocurrency space.
Play episode from 22:53
Transcript
