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Cryptocurrency News

LUNA meltdown sparks theories and told-you-sos from crypto community

05/11/2022

Less than a minute

2022.05.11 21:01

No matter how hard your day is going, spare a thought for LUNA investors Wednesday. Do Kwon, CEO of Terraform Labs and 18th on Cointelegraph’s Top 100, has lost billions of dollars for their investors.

Do Kwon’s coins came crashing down as brainchild Terra (LUNA) sinks over 97% from highs, while the stablecoin TerraUSD (UST) fell 75% lower than its intended dollar parity. At one point, the LUNA price tread lower than UST.

Source

05/11/2022

Less than a minute