@Today 23 May 2022

Millions of LUNA tokens are being burned to raise prices does Kwon believe that destroying tokens is pointless? Do Kwon, co-founder and CEO of Terraform Labs, has finally agreed to burn the majority of LUNA's inflated circulation supply of approximately 6.5 trillion tokens. Kwon has taken to Twitter to share a LUNA and TerraUSD (UST) burn address, despite his opposition to the idea. Despite Do Kwon's opposition, over 278 million LUNA Tokens were burned. The algorithmic stablecoin UST's recent death spiral is one of the worst in crypto history, degrading tens of billions of dollars in a matter of days.