Miles Deutscher, an Australian influencer and crypto knowledgeable, beforehand mentioned the FTX crash and mentioned in a tweet that “LUNA collapse triggered all this.” Do Kwon highlighted in his response to Miles that there’s nonetheless no proof that the troubled FTX was uncovered to LUNA.
“Miles – respectfully, this isn’t supported by proof. First off, there isn’t any proof that FTX had publicity to LUNA (they denied it), and 3AC purchased 109M value of Luna from a multibillion greenback steadiness sheet and afaik had no publicity to ust. Let’s attempt to persist with info.”
Do Kwon additionally mentioned that the now-defunct cryptocurrency hedge fund 3AC solely owned $109M value of LUNA regardless of having a steadiness sheet value billions of {dollars}, implying that their LUNA possession was incapable of getting an adversarial impact on them that might trigger them to fail. Kwon additionally made word of 3AC’s lack of UST holdings.
Kwon’s comment led Deutscher to acknowledge that neither Terra nor Kwon have been personally accountable for the FTX debacle.
“That’s to not say that you just straight triggered FTX’s downfall (that might be unfaithful as SBF is liable for his personal selections. However UST’s collapse kickstarted an unlucky collection of occasions,” Miles mentioned.
It is very important word that 3AC’s crash triggered a series response that triggered Voyager Digital to file for chapter for the reason that hedge fund was unable to repay the greater than $670 million mortgage it owed Voyager.
Bitboy crypto says in any other case
“I perceive why you consider this. However it goes again to what triggered LUNA. SBF/Alameda was behind EVERY SINGLE crash/collapse this yr. Even goal was a Solana/FTX competitor. Give it some thought. Hopefully going to ship exhausting proof on this quickly,” asserted Bitboy.
He additionally claimed that all the mishaps the crypto sector has skilled this yr may be attributed to SBF and Alameda.