Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

On the second point, to be fair you can look at the UST graph and see that someone did indeed burn a tonne of Luna to support UST. It's probably impossible to really prove that every penny went to supporting it, and it's probably impossible/unlikely that Do Kwon really bankrupted himself for this, but at the very least we can say someone decided they were going down with the ship and set a lot of money on fire. Difficult to see who would've done that other than LFG.


It’s impossible Do Kwon bankrupted himself. No one is going to do something no one believes any one in crypto or Wall Street would do and keep quiet about it: be selfless, stick to your previous words that critics never believed, and not be keeping a good chunk of money for yourself.

If this happened, we will be seeing massive PR about this. Do Kwon would become a huge symbol and become a millionaire again if he actually did that and opened his life and books to scrutiny to prove everything as much as possible.


Burning Luna (which can be created out of thin air) and burning USD/Bitcoin are entirely different things.


The point is that UST had significant rallies- that indicates a massive effort to support it that failed.


How do you know it doesn't amount to 1B? Or 500MM? Or 250MM? Unless there is transparency all of these is speculation, and since it is all depositor's monies, we should assume the worse until it's been proven otherwise.




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: