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Do you think Do Kwon will go to jail or be charged? They literally created money out of thin air (UST <—> Luna burn mechanism) and then hedged their ponzi by di
by sizzle 4y ago
Do you think Do Kwon will go to jail or be charged? They literally created money out of thin air (UST <—> Luna burn mechanism) and then hedged their ponzi by diversifying into BTC backing, then basically imploded billions of dollars of made up money mixed with real money invested by people from fiat on-ramps and retail legacy banking systems, etc.
- lvass 4y agoI've no idea, something equivalent was done many times over to either result. I certainly would not want to be him right now, I don't see him as directly responsible for anyone's loss, anyone understands a UST is not the same as a dollar bill but I wouldn't expect him to be treated nicely at all. On an unrelated note, the more time I spend analyzing this, the more I feel like a simple life is the best, desiring much more than basic needs is unlikely to bring happiness.
- sizzle 4y agoI wholeheartedly agree with your last sentence. Cheers!