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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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Luna Price Has Tanked 99 % During the Past 3 Days

A luna had been branded as a low risk savings account. A lot of people, and this includes larger investment companies, had tied up their assets in us t during the recent turbulence in the market. This has caused some expected collateral damage. We don't know whos responsible yet. But it's worth noting here that everything that they have done is completely legitimate. There's been no hacking involved. Ah, i guess you could call it an attack, but, well, refer to the individual individuals as the attacker in this situation. And this is ultimately a set of trades that have caused this to happen.

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