LUNA Disaster, the second Chernobyl

On 7 May, UST, pegged against the US dollar, started falling on all crypto platforms across the globe. On 9 May, its value had fallen to 35 cents after a massive sell-off. Luna, another crypto coin that also backs UST, lost all its value and fell to almost zero. Kwon Do-hyung, more commonly known as Do Kwon, is a South Korean cryptocurrency developer who co-founded and is CEO of Singapore-based Terraform Labs. Terraform Labs is the unlicensed company behind the Terra blockchain, which features the stablecoin TerraUSD and network token Terra. "Set your course by the stars, not by the lights of every passing ship", Omar N. Bradley