UST Depeg Following

May 19,2022
Korean VC Hashed Could Lose More Than $3.5 Billion in Terra Crisis KingData News: Korean crypto venture capital firm Hashed may lose more than $3.5 billion in the Terra crisis, according to CoinDesk. On-chain data shows that the company has more than 27 million LUNA staked on the Columbus 3 mainnet, 9.7 million LUNA on the Columbus 4 mainnet, and 13.2 million LUNA on the current Columbus 5 mainnet. At LUNA prices in early April, Hashed’s losses totaled more than $3.5 billion.
This indicator provides follow-up on the depg of Terra's stablecoin UST on May 8th. Terra's stablecoin UST briefly lost its peg to the U.S. dollar on May 8th, dipping as low as $0.985. The depeg event came after a series of multi-million dollar UST selloffs as one account traded about $85 million worth of UST for USDC on Curve Finance, while another user reportedly sold $108 million worth on Binance. UST posted a slight recovery shortly after Terraform Labs CEO Do Kwon posted a tweet calling out the stablecoin's critics.
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