Terra Luna & UST Conspiracy, What's Up With Them?

Terra Luna & UST Conspiracy, What's Up With Them?

This is the crushter in the history of crypto, Terra Luna which is in the top ten based on coinmarketcap fell 90% overnight, this is the biggest tragedy in the crypto world because the decline is really too.

This doesn't mean it's a hack, it's not because it's exported, there's a big war between whell that utilizes the social engineering of the terra founders and market manipulation by some conspirators.

On this occasion we will discuss the death of Terra Luna and who the suspects are, this time we will discuss three conspiracy scenarios that succeeded in overthrowing Luna.

Terra Luna is a blocking protocol that supports payments globally using stable coins, according to the whitepaper, Terra Luna is a blockchain protocol that adopts fiatcurrency with a fast and inexpensive process but still decentralized.

The developer started in January and became big in Korea maybe the world until it reached the top ten coinmarketcap, Terra Luna issued UST an algorithmic stable coin where Luna and UST have influence on each other.

When UST is published, Luna is burnt, when Luna is published there is UST is burned, you can imagine it like a seesaw. If UST is used more and more automatically the price of Luna will increase because Luna is burned, when people's trust in UST is destroyed, automatically there must be UST burned to stabilize the price of UST.

In order to remain one to one with the US Dollar, the problem is that when UST is burned, Luna has to be issued. When UST needed to be purchased in massive quantities, Luna's capacity was not sufficient and the price of UST was separated from the dollar, from what should have been one to one, it became 0.20-9 dollars.

Coins are stable but drop 80% so then there was a soft proposal from the Luna Foundation Guard to increase Luna's capacity, in the golden period Luna gave interest up to fifteen percent per year, this made many people flock to buy UST and this also made Luna's price go up too in its prime.

Terra Luna has a community called lunatics, when Tera paid off was in its golden age, its heyday, Do Kwon the founder forgot himself and became arrogant. Do Kwon had written a Tweet that caused anger from the community next door, Do Kwon also said 90% of crypto companies would go bankrupt and that comforted him.

But what happens now is that Terra went bankrupt first, there are still other tweets that might make other whells hot. Even in March 2022, he had bet 10 million US Dollars with someone on Twitter, even Do Kwon transferred 10 million dollars in stable coins in an escrow account.

He doesn't know how crazy the crypto community is, let alone the whells when they play, this started the destruction of Terra Luna. Prior to the presence of Terra Luna, SBF's also warned about the dangers of stable coins being backed up by volatile assets.

How is the relationship between Terra and LUNA, the whells who know the weaknesses of Terra Luna and UST take advantage of this loophole. No hacked contracts, no exploited contracts, it's pure logic.
The question is who are these whells ..?
Who are the players behind this conspiracy...?
There are three conspiracy scenarios of course.

This is the first conspiracy scenario, there are several parties suspected of being involved in the fall of Terra Luna.

The first is Citadel, a securities firm founded by Kenneth C. Griffin. According to information Kenneth C. Griffin is anti-Crypto. Second is BlackRock, they manage cash reverse from USDC. Third is Gemini, this is a crypto exchange owned by Tyler and Cameron Winklevoss.

Citadel and BlackRock borrowed 100 thousand Bitcoins through Gemini, they exchanged 25 thousand Bitcoins to UST, the info then they contacted Do Kwon and they said that they wanted to sell their bitcoins and make them into UST. Because this is a large trading volume they don't want to influence the market and give a discount for buying Bitcoin, if Do Kwon wants to buy this Bitcoin. Do Kwon who does have a reserve in the form of Bitcoin eats this bait with pleasure.

This activity reduces UST's liquidity, at this time Citadel and BlackRock are dumping the rest of the Bitcoin they have borrowed from Gemini. After that they dumped their UST on Binance, Anchor and Curve, and made UST expensive because UST's liquidity was low because they just bought Bitcoin.

The price of UST fell, in short, UST needed to be burned, but the problem was that Luna's minting capacity was limited, which made UST's fall more and more out of control.

Luna Foundation Guard releases their Bitcoin to zero to several market makers or in other words sells it to increase Luna's price, so UST can be burned and returned to its original price one to one dollar, the problem is that Luna's price is also dumped. When Bitcoin Luna is sold, the Bitcoin and crypto market as a whole han Crash.

The end of this scenario, whell buy Bitcoin at a low price, because Bitcoin has been dumped by Luna Foundation Guard. After that they paid off the collateral and then made some good news again, the price of crypto went up again and Bitcoin became normal again.

Citadel, BlackRock and Gemini stated that they were not involved in the manipulation of the UST market, they stated that this was a conspiracy theory which was later raised by Charles Hoskinson, the founder of Cardano.

The second conspiracy scenario is suspected to be the culprit, namely Do Kwon himself because he wanted to exit the scam, some say that this was indeed the work of Do Kwon himself to destroy the crypto market. A former Terra employee also said that Do Kwon was the actor behind the coin's basechase stable which also failed in 2018, when they raised up to $233 million from investors.

The third conspiracy scenario is for a party who wants to intentionally drop crypto and stable coins, who he is, maybe, it could be, friends, because this is a conspiracy theory. It could be the United States government, what is the United States government's business with crypto..

First, so that there is pressure for stable coins to be regulated, it is evident that Jannet Yallen immediately aspires to regulate stable coins. The second is to restrain the rate of crypto, so that people's trust in crypto decreases and there are no more countries that use Bitcoin and so on. Third, to increase the severity of sanctions from Russia, because there is a potential for Russia or the Russian community to use crypto to avoid sanctions from European and American countries.

The fall of Terra Luna also coincided with Yoon Suk-yeol's first day serving as president of South Korea who is known to be pro crypto, User trust in Terra Luna and UST has been destroyed, the destroyed price will never be lost in the memories of users forever, a history that has already happened. it was engraved that the stable UST coin was unstable and Luna started delisting from several exchanges.

Currently Do Kwon is trying to restore UST to its original state, to restore it, it is necessary to compare it to one dollar again, there must be a new Luna issued for that amount, so that Luna's price does not fall further, it needs to be saved by someone eating the new Luna.

LFG has 1.5 billion Bitcoin reserves, the funds will be used, but it will definitely have an impact on Bitcoin and lead to the entire crypto market cdush.

And the last thing I said, well who will eat Ambiar Bitcoin because it's luna. To be able to survive in the crypto world, we must have a whell mindset, know what scenarios and strategies are about and the end of the game. They are generally well and the end of the game they want is Bitcoin, the point is how to buy Bitcoin at low prices and even discounts.

The fault is that when they buy the price will definitely go up so the scenario is that if they want to buy as much as possible they will lower the price first, the incident at Terra Luna is the most powerful market manipulation in the crypto world. This is because the well know the weaknesses of Terra Luna and UST, this does not only apply in the crypto world, but in almost all markets so not only in the crypto world.

The solution is we just follow the wheel game, many people also pray for the price of Bitcoin to go down but when the price goes down they don't dare. Instead of having a well mindset, most of us have an anchovy mindset, this is the time we can buy Bitcoin.

Bitcoin is our first line of defense, the first one we must build before we build any other crypto sector. Bitcoin is the big ship, while crypto is the small ships on the big ship and they come and go.

Back to Bitcoin, rebuild our defense walls, crypto can come and go proven, top ten coinmarketcap is not a guarantee. However, Bitcoin is a guarantee for the future in the crypto world.