No $LUNA or $UST Were Sold This Crash Says Terra Founder Do Kwon Outlining Recovery Plan

From the last few weeks, and just three days ago, Terra Luna’s supply was just 340,000 according to Terra analytics. And the UST lost its peg from the dollar on Monday, and that is when the Luna started falling downward in reference to the related token which was supposed to prop up UST’s value.

The sale of Luna was supposed to help the algorithmic stablecoin TerraUSD (UST) to keep in parity with the US Dollar. But inaction to UST’s loss in its peg and investors tried cashing out a masse, which affected the downward fall of Luna.

The CEO and Co-founder of Terraform Labs have broken his silence on social media by making a trio of tweets this Friday. Regarding the collapse of Terra’s LUNA token and UST, an associated stablecoin.

Stating ” I’ve spent the last few days on the phone calling Terra community members – builders, community members, employees, friends, and family, that have been devastated by UST depegging. I am heartbroken about the pain my invention has brought on all of you.”

Continuing to this he again tweeted on May 14: “I still believe that decentralized economics deserve decentralized money – but it is clear that $UST in its current form will not be that money.”