We’re currently watching one of the the largest events in Crypto history.

The sketchy outlook in the markets has triggered a run on the UST stablecoin, which began destabilizing in the last several weeks.

As time progressed, the peg worsened, and it eventually rolled over into a complete crash of both the value of UST, and the native asset LUNA.

What led to the crash? Was it a coordinated attack, or an inevitable collapse?

What Red Flags were there ahead of time? What’s the fallout from all of this? What lessons can we learn?

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Topics Covered:

0:00 Intro
6:30 Explaining the Terra Ecosystem
9:30 Tail Risk and Background
13:50 Bitcoin, Curve, and Monsters
17:54 The Initial Destabilization
20:14 The Panic Begins
24:40 The Charts
27:18 A Total Collapse
32:30 Regulators Get Involved
35:08 Was This An Attack?
37:58 The Collateral Damage
40:00 Do Kwon’s Big Talk
41:52 Rick Sanchez and Basis Cash
44:08 Community Response
46:05 How Do We Move On?
49:14 Don’t Take Shortcuts

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Resources:

Anchor Protocol:
https://app.anchorprotocol.com/earn
Buying Bitcoin:
  / 1507688906820620291  
Curve Pools:
https://dune.com/SebVentures/UST
Binance Orderbook:
https://twitter.com/hasufl/status/152...
External Collateral:
  / 1523526622044860416  
Deploying More Capital:
  / 1523733542492016640  
Collapse:
  / 1523712585794977792  
Bitconnect:
https://twitter.com/TrustlessState/st...
Historical:
https://twitter.com/nic__carter/statu...
Janet Yellen:
https://twitter.com/tier10k/status/15...
Coordinated Attack:
https://twitter.com/TerraBitesPod/sta...
Vitalik Clip:
https://twitter.com/BanklessHQ/status...
Mental Health:
https://twitter.com/Shigeo808/status/...

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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
https://newsletter.banklesshq.com/p/b...