#Terra #Stablecoin Issuer Allowed #Crypto Whales to #Cash Out Ahead of #Collapse
source: https://thedeepdive.ca/terra-stablecoin-issuer-allowed-crypto-whales-to-cash-out-ahead-of-collapse/
Although the exact timing of the two transactions remains unknown, #cryptocurrency research company Elliptic found that they took place sometime between May 9 and May 10, when the price of UST traded at around 60 cents in secondary markets, and #bitcoin stood between $30,000 and $31,000. The data suggests that certain UST holders were able to exchange their tokens for the bitcoin offered by the Luna Foundation Guard at nearly face value, instead of taking steep loses on secondary markets like retail bag holders were forced to do.
