Discussion

• @stablekwon @stablekwon on x

  Deploying more capital - steady lads

• @el33th4xor @el33th4xor on x

  Even fully-collateralized fiat stablecoins have depegged. Even some of the weak algo stablecoins have recovered. Some thoughts. 🧵👇

• @bitfinexed @bitfinexed on x

  The only difference between UST and USDT, is that we know what cards UST is holding. Tether doesn't tell us what cards they hold, because they know it's crap, and will suffer the same fate as UST. Transparency kills fraudulent Ponzi scams.

• @twobitidiot @twobitidiot on x

  If Terra fails, it's half the size of Enron, so maybe hold off on the shadenfreude while we're on the edge of the regulatory abyss.

• @sandeepnailwal @sandeepnailwal on x

  I have not followed LUNA/UST ecosystem or community discourse much BUT at a founder to founder level, I can feel for @stablekwon He is at the epicentre of this industry wide event, handling so much pressure & responsibility at such a young age. Good luck to him & Luna community!

• @crypto @crypto on x

  Meet the Bitcoin whale that has the whole market watching his every move https://www.bloomberg.com/...

• @alastairjmarsh @alastairjmarsh on x

  When ‘stablecoin’ becomes an oxymoron, it may be time to panic. Nice take from @s_m_i on current crypto mayhem: https://www.bloomberg.com/...

• @azeem @azeem on x

  Algorithmic stablecoins are one of crypto's more polarising experiments. The collapse in UST has galvanised both critics and “LUNA-tics” https://www.bloomberg.com/... via @technology

• @emilyjnicolle Emily Nicolle on x

  algorithmic stablecoins use a combination of maths, traders, smart contracts and no small amount of faith to maintain their peg of 1:1 value to the dollar. but for Terra's UST, all of those avenues stopped working — @s_m_i breaks down how it happened https://www.bloomberg.com/...

• @babacugs @babacugs on x

  Damage is done https://twitter.com/...

• @crypto @crypto on x

  Stablecoins are supposed to provide calm in the chaos of crypto. Instead, as investors in Terra's UST algorithmic coin are rapidly finding out, they can serve as lightning rods for volatility https://www.bloomberg.com/...

• @refsrc Manish Singh on x

  Kyle weighs in on UST drama: https://www.bloomberg.com/... https://twitter.com/...

• @binance @binance on x

  Withdrawals on Terra Network $LUNA temporarily suspended. https://www.binance.com/...

• @hasufl @hasufl on x

  More importantly, it's physically impossible to sell $UST on Binance below $0.70 They literally set a price floor Manipulation much lol

• @thecryptolark Lark Davis on x

  $ust back to 94 cents on Binance. Wild day man!

• @bitfinexed @bitfinexed on x

  Binance suspends UST withdrawals, can't have you selling UST on other exchanges. https://twitter.com/...

• @mayazi Maya Zehavi on x

  One of the data points that could restore trust in Luna would be if Jump, Almadea, Binance would be transparent as to what their positions & trades were during the entire Terra episode

• @mhonkasalo @mhonkasalo on x

  Count ~1.1 billion of UST on Binance & on-chain in (bad debt) accumulation. 100s of millions more spent defending $0.98 & prop up Curve pools right now. This is fucking insane. https://twitter.com/...

• @thecryptolark Lark Davis on x

  $ust getting bid up hard on Binance right now. What a wild morning it has been so far. Crypto is def not boring today.

• @markgutman9 Mark Gutman on x

  The “future of money” is a one way casino that you are not allowed to leave until you have lost all your money https://twitter.com/...

• @silvermanjacob @silvermanjacob on x

  lmao sure https://twitter.com/...

• @jonwu_ @jonwu_ on x

  An $18 billion stablecoin is losing its dollar peg with all the magical chaos of algorithmic stables, with a dash of Bitcoin systemic risk drama. Here's everything you need to know. The $UST Depeg Thread: 👇

• @stablekwon @stablekwon on x

  1/ The LFG Council just voted to deploy 1.5B in capital (0.75B in BTC, 0.75B in UST) to allay market concerns around UST. Some more context on why and how: https://twitter.com/...

• @hasufl @hasufl on x

  Binance book is empty. Never seen that before https://twitter.com/...

• @tracyalloway Tracy Alloway on x

  Crypto: The financial system's broke! We need something better! 2008 was crazy! Also crypto: Here are a bunch of volatile assets in a liquid wrapper pegged one to one with the dollar. https://twitter.com/...

• @sbf_ftx @sbf_ftx on x

  Just as the outside view skeptics predicted, during a large market move a stablecoin blew out. Just not the stablecoin they predicted. Which was predictable, if you knew the details. This isn't a comment about good vs bad—it's about how important it is to know the details!

• @thestalwart Joe Weisenthal on x

  Someone made this point earlier, but it speaks to the profitability of crypto that private sector bailouts are so common in the space. It's worth a lot to keep the status quo going. Worth watching to see if the dynamic evolves.

• @kevinsekniqi @kevinsekniqi on x

  THIS IS THE GREATEST SHOW ON EARTH RIGHT NOW.

• @terra_money @terra_money on x

  1/ Liquidity brawl behind the scenes amid material $UST peg deviation on third-party venues. Fighting back. More updates are incoming #LUNAtics. Hang on, fam. Here are some resources to combat misinformation:

• @ryansadams Ryan Sξan Adams on x

  Let's call it what it is. Luna was reckless and now they're going to bring the wrath of the regulators on this industry. They'll demand stablecoins issuers be regulated like banks. They won't differentiate between a DAI, FRAX, or UST. Who can blame them after this shit show?

• @cyber_hokie @cyber_hokie on x

  I keep seeing people call this a coordinated attack on UST as if that is supposed to somehow assuage concerns and mitigate confidence loss. If it's so fragile that it can be attacked so easily, this won't be the last time.

• @0xdoug Doug Colkitt on x

  1/ Fascinating little phenomenon happening in the Uniswap UST/USDC pool right now... The price in the pool is basically “stuck” at $0.952, despite the actual market price being $0.93. https://twitter.com/...

• @alexhern Alex Hern on x

  More people should understand that “a stablecoin fell 30%” isn't a “Stonks falling” story, it's a “Barclays called and told you that they're going to take a third of the money in your bank account away” story

• @zguz Zack Guzmán on x

  .@terra_money set out to challenge the entire status quo of the traditional banking system A decentralized stablecoin has never existed on UST's scale. High reward comes with high risk. It would be naive to think there aren't a lot of very powerful people who want to see it fail

• @trader1sz @trader1sz on x

  i dont even feel safe holding usdt anymore

• @martiniguyyt @martiniguyyt on x

  (I just converted $50k #USDT to #UST to make a quick 5% assuming the price recovers)

• @darealmilkbagz @darealmilkbagz on x

  BREAKING: THE UST PEG

• @joemccann J◎e McCann on x

  Do you think they would let $LUNA fail? The amount of adjacent money in the Terra ecosystem is way too big to let it fail.

• @molly0xfff Molly White on x

  “stablecoin” is about as accurate a term as “smart contract”

• @terra_money @terra_money on x

  3/ UST is backed by user on-chain activities and Terra economy demand (i.e., Terra network economic activity + corresponding cashflow): https://twitter.com/...

• @forgash_ Jack on x

  A very important note about this is that the true peg, the on-chain peg, never deviated during all of this market madness. On ETH-based swaps, yes, there was a deviation and this is exactly why the mystery wallet had to bridge to make these swaps. https://app.flipsidecrypto.com/ …

• @thestalwart Joe Weisenthal on x

  So it didn't get as much attention as other stuff in the interview. But I actually asked @SBF_FTX about this whole $LUNA / $UST situation a couple weeks ago. His answer: “You know how this plays out.” From the transcript: https://www.bloomberg.com/... https://twitter.com/...

• @crypto @crypto on x

  After stablecoin UST lost its dollar peg, Do Kwon and the Luna Foundation Guard are issuing $1.5 billion worth of loans to stabilize the token https://www.bloomberg.com/...

• @jonwu_ @jonwu_ on x

  It's worth noting you can always redeem 1 $UST for $1 worth of $LUNA, even if $UST is worth <$1. It's meant to be a stabilizing mechanism: If $UST is trading at $0.99, arbitrageurs can buy it and redeem it for $1 of $LUNA.

• @officialtravlad @officialtravlad on x

  Erm..... UST on sale? Buy of the day? Wtf NOT FINANCIAL ADVICE LOL https://twitter.com/...

• @mylifeindefi @mylifeindefi on x

  1/ To help others understand the $UST arbitrage and why the peg doesn't come back straight away... There are some parameters that determine the spread when minting and burning $UST / $LUNA. The more mint/burn happens in a day, the higher the spread. #terraluna

• @kevinsekniqi @kevinsekniqi on x

  This battle is insane. https://twitter.com/...

• @terra_money @terra_money on x

  A-Team is assembling.

• @carnage4life @carnage4life on x

  A stablecoin that's always supposed to be $1.00 is currently trading at $0.93. Can someone who's good at crypto explain this to me? https://twitter.com/...

• @erikvoorhees Erik Voorhees on x

  People in tradfi making fun of UST... not realizing their stablecoin also depegged by 8% this year.

• @nzkoz Michael Koziarski on x

  Algorithmic pegs never made sense to me... did it maybe never make sense to anyone else either? https://twitter.com/...

• @dlauer Dave Lauer on x

  The entire crypto world is glued to their screens as usdt unpegs (flashbacks to 2008 right now) and the other 99% of the world has no idea this is even taking place. https://twitter.com/...

• @timbray @timbray on x

  [Waiting for the big $USDT print...]

• @antoniogm @antoniogm on x

  Crypto Twitter is watching the UST peg like the markets once watched George Soros ‘break’ the Bank of England's sterling peg to the Deutschmark in the early 90s, forcing the UK out of the proto-euro.

• @mdudas Mike Daodas on x

  everyone's like “stop being mean to $ust, don't kick a founder while he's down” bruh, the guy literally nuked any human who was like “hey, this thing might not be totally economically sound” off the earth with an army of tens of thousands cry somewhere else

• @cbarraford Chad Barraford on x

  The $UST peg will be restored. Ignore the FUD.

• @trustlessstate @trustlessstate on x

  UST 😬😬😬 https://twitter.com/...

• @guilletorrealba Guillermo Torrealba on x

  “...the Luna Foundation Guard said it would defend the stablecoin...” Decentralized https://twitter.com/...

• @coindesk @coindesk on x

  JUST IN: The $UST stablecoin has lost its dollar peg for the second time in 48 hours, falling to as low as $0.98 on Monday. By @skesslr https://www.coindesk.com/...

• @nayibbukele @nayibbukele on x

  El Salvador just bought the dip! 🇸🇻 500 coins at an average USD price of ~$30,744 🥳 #Bitcoin

• @mcuban Mark Cuban on x

  Crypto is going through the lull that the internet went through. After the initial surge of exciting apps, NFTs, DeFi, P2E, we saw the imitation phase as chains subsidized the movement of those apps to their chains (ala bandwidth and storage subsidies by startups in the 2000s)

• @nayibbukele @nayibbukele on x

  Bitcoin City is coming along beautifully ❤️ https://twitter.com/...

• @lfg_org @lfg_org on x

  1/ Over the past several days, market volatility across crypto assets has been significant. The market turmoil is also reflected by the past week's uncertain macro conditions across legacy asset classes.

• @saylor Michael Saylor⚡️ on x

  Monday morning is time to get back to work. #Bitcoin https://twitter.com/...

• @saylor Michael Saylor on x

  MicroStrategy has a $205M term loan and needs to maintain $410M as collateral. $MSTR has 115,109 BTC that it can pledge. If the price of #BTC falls below $3,562 the company could post some other collateral. See slides 11-12 in Q1 2022 presentation. #HODL https://www.microstrategy…

• @cryptomanran Ran NeuNer on x

  Ask yourself; if the markets go down another 20% would you rather be holding a JPEG of a stuffed animal or an Algorithmically backed Stable Coin??

• @schwarz Jon Schwarz on x

  If you bought $1000 of a bitcoin ETF when Matt Damon's “Fortune Favors the Brave!” crypto ad premiered on October 28 last year, you would now have $554. https://twitter.com/...

• @thinkingbitmex @thinkingbitmex on x

  I bought Bitcoin at 68,900 to hedge against 8% inflation I'm now down 52% in 6 months

• @maybebullish Will Hershey on x

  Algo stablecoin breaking peg 😬 https://twitter.com/...

• @bennetttomlin Bennett Tomlin on x

  It's easy to forget that MicroStrategy's business is business intelligence

• @nayibbukele @nayibbukele on x

  I could sell this coins right now and make almost a million dollars in just 11 hours, but of course not 🥰 https://twitter.com/...

• @jeffjohnroberts Jeff Roberts on x

  El Salvator is on cusp of default b/c no one will buy its half-baked Bitcoin bonds and this is what President Bro is doing https://twitter.com/...

• @film_girl Christina Warren on x

  This is just mean @paleofuture — I didn't buy any 6 months ago but flashbacks to my Doge grift of 2021 seems just amazing now. https://gizmodo.com/...

• @zachweinberg @zachweinberg on x

  Digital gold seems awfully correlated with risk assets.

• @cz_binance @cz_binance on x

  It might be the first time and painful for you, but it's not the first time for #bitcoin. It just looks flat now. This (now) will look flat in a few years too. https://twitter.com/...

• @cz_binance @cz_binance on x

  Emotions. If you panic during a dip, you probably over invested. Try reduce your investment size by 2x or 10x. You will be in a much better position to control your emotions. Only increase your position when you can handle your emotions.

• @sartoshi_nft @sartoshi_nft on x

  imagine waking up to all this crypto news if u were in a coma for the past 37 mins

• @thestalwart Joe Weisenthal on x

  Shiba Inu's market cap is not even $9 billion anymore.

• @cryptowhale @cryptowhale on x

  BREAKING: MicroStrategy is now at loss with #Bitcoin purchases, down $34 million on all their investments.

• @timbray @timbray on x

  Better hurry, looks like maybe your last chance to buy $BTC north of $30K.

• @iamjosephyoung Joseph Young on x

  Last year, Bitcoin bottomed out in July after consolidating between May and July. I definitely feel more fear and panic in the market this time around. So, I also feel there will be a lot of bottom shorters this time around when it starts turning around.

• @tier10k @tier10k on x

  BTC < 31k https://twitter.com/...

• @ryansadams Ryan Sξan Adams on x

  I guess we're doing this https://twitter.com/...

• @nlw Nathaniel Whittemore on x

  One of the surest signs of where we are in the cycle is that you're about to see the professional talking heads coming out of the WOODWORK to say that they always knew this blockchain/bitcoin/web3 thing was utter nonsense and shouldn't we all have known as well, like them.🤷‍♂️