The UST Depeg and Luna Crash + Azuki Founder Confession

“You could listen to influensooors about UST depegging for the 69th time, or you could remember they’re all now poor, and go for a run instead, wyd?” This was Do Kwon’s tweet a day before UST lost its peg down and plummeted to a scarcely believable 60 cents. This is a stablecoin we’re talking about. If you had the conviction that UST would reach its peg again, this would be a good opportunity to get in, and guess what? 0xSifu went with size. Frog Nation’s former CFO 0xSifu exchanged about 2.8 million USDT for about 3.88 million UST when UST was around $0.72. Easy $700K profit. At the time of writing the script, UST has yet to regain its peg and is hovering just around 0.91 territory.