But while no one has been able to precisely determine the root cause behind the collapse of LUNC and USTC in May, it is known that the majority of the USTC sell orders came from Bankman-Fried’s trading firm Alameda research, according to the NYT.
A person with knowledge on the matter also told NYT that Alameda Researched also placed a big bet on the price of LUNC falling. Like with most comments Bankman-Fried has shared since FTX’s collapse, the former CEO claimed that he was “not aware of any market manipulation and certainly never intended to engage in market manipulation,” according to NYT.Related:Responding to the recent report, Terraform Labs CEO Do Kwon shared his thoughts on the matter to his 1 million Twitter followers in a Nov.
Regardless of which were the exact causes of the Terra collapse, the market's manipulation did have a profound effect on the UST, affecting its 1:1 ratio.
Probably had SOMETHING to do with it but im sure there were multiple actors involved in that takedown. it was a bad idea to begin with, I took one look at the algorithm and knew it was possible to depeg.
another opinion, maybe FTX is a government tool to bring down Luna, Luna is a big threat to banks in the future,to bring down Terra need a lot of money, considering that Terra has huge reserves. actually Terra's weakness is very expensive to tear it down.
$FTTC BUY NOW OR CRY LATER 👀📈
This man needs all the probes