Terra Do Kwon tweets about how Genesis and SBF triggered the downfall of the Terra ecosystem

Do Kwon, a co-founder of Terra, blames Genesis and former FTX CEO Sam Bankman-Fried for the Terra LUNA crisis. He is convinced that Sam Bankman-Fried or Alameda received $1 billion worth of TerraUSD (UST) stablecoins from Genesis Trading prior to the UST deprecation.

A market manipulation investigation into whether FTX and Alameda Research contributed to the Terra LUNA crisis has been initiated by federal prosecutors dealing with the FTX crisis and its connection to Alameda Research.I think it’s about time @GenesisTrading disclosed whether they provided the $1bn UST to SBF or Alameda just prior to the crash – the LFG purchase was described as “interest in participating in the Terra Defi.” -Ecosystem” shown – not providing ammo for a pin attack

Do Kwon wants everyone to come in

Do Kwon, the founder of Terra, revealed in a series of tweets on December 8th (LUNA) how Genesis Trading, Sam Bankman-FTX, Fried’s and hedge fund Alameda contributed to the downfall of the TerraUSD (UST) stablecoin and Terra.

Do Kwon claims that Genesis Trading acquired billions in UST from Luna Foundation Guard (LFG) and moved it to FTX or Alameda prior to the USD depeg. SBF used the funds to manipulate prices in favor of companies like FTX and Alameda Research.

Do Kwon also questioned why Alameda borrowed more than $1 billion in Bitcoin from Voyager during the UST deprecation. In addition, Alameda requested an additional $10 billion in bitcoin from other major companies. He wants SBF to publish the details of these significant transactions.

He believes that Alameda, a cryptocurrency trading company led by Sam Bankman-Fried, made a significant bet that LUNA’s price would go down.

Additionally, he announces that Alameda was responsible for the “significant currency contraction experienced by UST in February 2021.” To exhaust Curve’s liquidity pools during the Magic Internet Money (MIM) crisis, Alameda sold 500 million UST in minutes.

The New York Times reported Wednesday that US federal prosecutors are investigating whether Sam Bankman-Fried, the founder of FTX, rigged the market for two cryptocurrencies in May, causing their demise and the demise of his own cryptocurrency exchange.

According to the report, prosecutors are investigating whether Bankman-Fried manipulated the prices of two related currencies, TerraUsd and Luna, for the benefit of companies he controls, including FTX and Alameda Research.

The investigation is still in its early stages, the newspaper reported, adding it’s unclear if or when prosecutors began investigating the TerraUSD and Luna trades, or if they found evidence of Bankman-Fried’s wrongdoing had.

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