What happened to Luna crypto?

There are two stories regarding Luna crypto: the TerraUSD/UST stablecoin and the actual Luna coin. Once Luna and UST crashed, there was a total liquidity crunch in the cryptocurrency space that caused an even more catastrophic loss of value. The crypto community still hasn’t recovered.

Are Citadel Securities and Blackrock behind the Luna token crash?

Unsubstantiated rumors have been making the rounds on social media, saying that the two firms shorted LUNA, among other actions. The UST token continues to be significantly depegged from its $1 value. Citadel Securities and BlackRock have both rejected the rumors that they were behind the recent crash of the LUNA token and UST.

Who is involved in Luna's market collapse?

In the latest update of the rumors surrounding LUNA’s market collapse, all parties involved in the allegations have publicly denied any involvement. The companies in question are Gemini, BlackRock, and Citadel. The rumor mill started after messages appeared on 4chan and Telegram accusing the three companies of market manipulation.

How much is a Luna coin worth?

A Luna coin was going for around $116 in April and ended up dropping to a fraction of a penny before being delisted. Before that, the coin went from being worth less than $1 in early 2021 to creating many crypto millionaires within a year. This led to Kwon’s cult hero status among (some) retail crypto investors.