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Latest from Sam Kessler
First Mover Americas: May Brings Showers Not Flowers as Bitcoin Languishes in Terra Aftermath
The latest moves in crypto markets in context for May 16, 2022.

LFG Reserves Dwindle to Just 313 Bitcoins From 80K After UST Crash
The announcement comes after criticism of the Luna Foundation Guard's "lack of transparency."

Do Kwon’s Proposed Terra ‘Revival’ Puts UST, LUNA Holders in Charge
A “Revival Plan” submitted Friday by the Terraform Labs CEO would redistribute ownership of the network.

The LUNA and UST Crash Explained in 5 Charts
One of the earliest signs that things were going wrong for Terra came when UST deposits on Anchor started dropping Saturday.

UST’s Do Kwon Was Behind Earlier Failed Stablecoin, Ex-Terra Colleagues Say
Basis Cash, an algorithmic stablecoin project founded by the anonymous “Rick” and “Morty” in 2020, was actually the work of Terraform Labs employees.

UST Backer LFG Seeks $1B to Shore Up Stablecoin Peg: Report
The funding is needed because the dollar-pegged stablecoin dropped as low as 60 cents Monday amid broader market turmoil.

UST Stablecoin Veers Wildly From Dollar Peg. Here's the Latest
By tapping into its bitcoin reserves, UST’s salvation may have exacerbated a bitcoin sell-off that brought BTC to its lowest price since July 2021.

UST Stablecoin Loses Dollar Peg for Second Time in 48 Hours, LUNA Market Cap Falls Below UST's
The development comes after the Luna Foundation Guard announced that its massive bitcoin reserves will be used to defend UST’s dollar peg.

Compound’s Enterprise Arm Receives S&P Credit Rating in DeFi First
The iffy B- grade applies to Compound Treasury, a platform promising 4% yield for USDC-denominated business accounts.

UST Stablecoin Briefly Loses Peg, Luna Drops 10%
The Saturday event led to questions about whether Terra’s bitcoin reserves will soon face their first test
