Terra's BTC reserve fully liquidated yesterday!

So, I suppose this means the selling pressure on BTC we had yesterday is over... now that there is none left for the treasury to sell!

What caused further capitulation as it pertains to Terra/UST is their reliance on a Bitcoin war-chest designed as a shield against a cascading event such as this. This BTC reserve, which is used to attempt re-pegging UST to 1 USD in calamitous market events, was liquidated today. This caused more blood as Terra’s caretakers were forced to sell every single BTC in the reserve.

https://cryptosrus.com/market-chaos...aign=market-chaos-makes-for-mega-manic-monday

 

So... what happens if there is another wave of selling soon? Does somebody end up with their knickers in a twist?

 

The face of this latest scam .

 

I was a little suspicious these last few weeks when all you heard was how much Bitcoin Terra is accumulating and their mission to be the largest repository of BTC. Etc. etc. etc. All this hoopla.

And after all that time and accumulation, in just one brief period they literally flooded the market with all that BTC in a desperate attempt to save their flawed peg.

After the lessons we learned from IF, seems someone STILL fell asleep at the wheel. Watching this is like Iron-Finance in slow-motion.

Congratulations to the whale(s) that initiated the double-pronged attack and set this whole thing in motion. Well played sir, well played.

 

Its all a giant , obvious, disgusting scam, perpetrated by sociopaths masquerading as technodweebs


TERRA 20 billion +++ gone in a week

lol

lets bring it ALL to zero , and move on with real life

 

Millions of followers, this idiot told them to go all in on Terra a month ago

25 billion gone. Why isnt he in jail ?

https://www.youtube.com/shorts/oOH8cjxUg9M

 

Seems like the whole unregulated, 'decentralized', no rules, Wild West thing wasn't such a great idea after all.

Looks like Luna has crashed to a buck. More than likely this will be seen as the opening shot in 2022's great crypto carnage.

 

for the past few days,

there are many very happy and very sad

Terra investors/traders.

 

Another shit-coin down the drain. Here one week gone the next!

Ok, ok, so it's been around for a while. But just as it was ramping up fame a year ago... POOF! We've seen this before.

A good lesson here... when you're seeing 20% APR... and banks are paying nothing, be a little cautious my friend.

I still don't even go near Nexos, etc. I see them always advertising how much yield they pay but... my spider-censes always tingle.