Our hearths and mind go out towards the company owners, team members, project investors from Terra Luna. Nobody enjoys what has taken place in the market and the most important thing from hereon is finding a way to recover together.
What happened?
The sudden and dramatic fall from grace ravaged the coin’s market cap, taking it from more than $40 billion (£32.7 billion) to just $500 million (£409 million).
Some investors said they had lost up to $450,000 (£368,000), spelling disaster for their homes and savings.
UST decoupled from the dollar earlier this week, and the downturn followed not long after.
Do Kwon, the founder of Terra creators Terraform Labs, addressed the situation via social media today.
