⏳Terra crash, chronology of events: • May 8 - UST fell to $0.99, LUNA fell by 8%. Do Kwon said the blockchain has removed 150 million UST from Curve Finance's DeFi protocol in preparation for deployment to the 4pool liquidity pool.Like the company untied 100 million UST to “reduce the imbalance” of the stablecoin. • May 9 - Terra announced that it will allocate $1.5 billion in BTC and UST to market makers to maintain the UST/USD peg. • May 10 - Terra sold its BTC holdings, media reported that the company wants to raise $1 billion to support UST. • May 11 - Do Kwon unveiled the first recovery plan for the UST stablecoin (failed). • May 12 - Binance, Bybit, BitMEX and others began delisting instruments on LUNA. Released the first 240 million LUNA. The Terra blockchain has been rebooted for an update. • May 13 - The Terra blockchain was stopped again, after the launch, on-chain swaps were turned off and IBC channels were closed. The LUNA issue reached 7 trillion, the price collapsed to $0.00002. Binance has resumed LUNA/BUSD and UST/BUSD spot trading. VanEck and 21Shares have suspended support for LUNA funds. • May 14 — Singaporean investors LUNA and UST filed a police complaint against the CEO of Terraform Labs. • May 16 - Polygon invited Terra developers to move to their ecosystem. Assets remained in Terra's reserves: 313 BTC, 39,914 BNB, 1.9 million AVAX, 1.8 billion UST and 222.7 million LUNA. • May 17 — Binance offered cooperation and assistance to projects on the Terra blockchain in the transition to BNB Chain. 90% of the Terra community did not support the hard fork of the network. • May 18 - Do Kwon is accused by the South Korean tax office of tax evasion in the amount of $78.4 million. The Near Foundation also began to poach Terra developers. • May 19 - G7 urged to accelerate regulation of cryptocurrencies after the collapse of Terra. In South Korea, the organization for the investigation of crimes in the field of finance and securities was recreated. • May 20 - Do Kwon amended his proposal to restore the Terra blockchain in an on-chain vote. It has been revealed that Do Kwon filed for liquidation of the company's Busan headquarters and Seoul offices on April 30, a week before the network collapsed. 3 people reacted
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