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LUNA’s Collapse Exposed: Is FTX the Mastermind Behind the Chaos?
The cryptocurrency world is still reeling from the 2022 crash of Terra (LUNA) and its affiliated stablecoin, UST. New information has surfaced that suggests a connection between FTX, Three Arrows Capital (3AC), and the LUNA collapse. This fresh twist raises more questions than answers about the events that unfolded.
Recent developments have shed light on an intriguing turn of events. It appears that FTX liquidated $1.53 billion in assets just two weeks before 3AC’s collapse. This information has been verified by a judge, adding credibility to the claim. Former Binance CEO Changpeng Zhao (CZ) reacted to this news with interest, stating it was new to him and wondering if there could be a link between FTX and the LUNA meltdown.
One crypto analyst, MartyParty, claims that he had previously discovered evidence on-chain indicating massive withdrawals of UST from the liquidity pool by both Celsius and FTX. According to his findings, these firms executed $200 million UST withdrawals simultaneously, ultimately causing the stablecoin’s depegging and subsequent LUNA crash. These revelations have sparked theories about a potential coordinated attack, with some suggesting that powerful players in the crypto space orchestrated the collapse.
CZ has already completed a draft of his upcoming book, which is expected to provide insight into the industry’s most tumultuous years. Although he believes it will take three times more effort to refine the content before publication, it remains to be seen whether this book will shed light on the recent developments or focus on CZ’s personal experiences.
As speculation mounts about the LUNA collapse and potential FTX involvement, many are eagerly anticipating CZ’s account of these events. His book has the potential to provide a unique perspective on the market chaos that ensued in 2022.
Source: https://coinpedia.org/news/lunas-collapse-exposed-is-ftx-the-mastermind-behind-the-chaos/
