Coffeezilla explains the downfall of LUNA crypto: \u201cOne golden token turned to toilet paper\u201d Youtube: CoffeezillaRenowned internet sleuth and noir crypto-detective \u2018Coffeezilla\u2019 has brought his impressive brand of investigation into the catastrophic downfall of LUNA. With billions of dollars in value being wiped out overnight, the complete implosion of LUNA over a 24-hour period has sent waves through the internet. Influencers like KSI have lost mind-blowing amounts of money, while a number of crypto bros have gone from laughing in the face of the poor to trying to defend their misery. In a dark turn of affairs, the subreddit dedicated to LUNA and its followers has pinned a help hotline to the top of its sub for those in need. Reacting to the latest developments, Coffeezilla took a deep dive in his most recent YouTube video titled: \u2018How Luna Collapsed,\u2018 focusing heavily on the actions of Do Kwan, the founder of the TerraForm Labs, the crypto company behind LUNA. top of the LUNA subreddit is now a hotline number. This is turning dark. https:\/\/t.co\/R2DpNfKEgK pic.twitter.com\/V5da1TmBIK \u2014 Coffeezilla (@coffeebreak_YT) May 10, 2022 The YouTuber starts his video by announcing \u201call it took was one market downturn to turn this golden token into digital toilet paper.\u201d Continuing, he points it \u201cIn one week Luna has gone from eighty dollars a token, to less than one\u201d. At the time of writing LUNA sits at 2\/1000th of a cent per token. After calling out how \u2018predictable\u2019 the crash was, Coffeezilla brings up points made in a previous video. Namely that LUNA was based on a Ponzi scheme, and that a collapse of this kind was \u201cpredictable.\u201d So predictable that Do Kwan was baited on Twitter into taking a $10 million dollar bet that \u201cLUNA will be lower price in 1 year.\u201d The video pulls apart tweets made by Do Kwan, claiming the founder incentivized the backlash against him by tweeting: \u201cBillionaires in my following, go ahead and see what happens\u201d as a taunt against his doubters. Without the ability to directly blame the incredible demise of LUNA solely on Do Kwan\u2019s shoulders, Coffeezilla explains: \u201cIt was this unique combination of arrogance, antagonism, and disregard for criticism that contributed either directly or indirectly to LUNA\u2019s collapse.\u201d The video exposes more of the questionable history behind Do Kwan\u2019s actions, before relating it back to the bigger picture of the billion-dollar bubble. Acknowledging the real-world impact this will have, Coffeezilla continued: \u201cWhile I hold very little sympathy for Do Kwan\u2019s failure, I do feel bad for all the traders who got swept up in it. [Especially] the regular investors who don\u2019t have millions to spare.\u2019 Closing out the video, Coffeezilla suggested that \u201cwe can\u2019t forget about the painful lessons things like LUNA can teach us.\u201d Numbering off the advice \u201c1. Don\u2019t taunt internet billionaires. 2. Don\u2019t build Ponzi schemes. 3. Beware Algorithmic stablecoins.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Coffeezilla explains the downfall of LUNA crypto: \u201cOne golden token turned to toilet paper\u201d Youtube: CoffeezillaRenowned internet sleuth and noir crypto-detective \u2018Coffeezilla\u2019 has brought his impressive brand of investigation into the catastrophic downfall of LUNA. With billions of dollars in value being wiped out overnight, the complete implosion of LUNA over a 24-hour period has […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-46038","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/posts\/46038","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/comments?post=46038"}],"version-history":[{"count":0,"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/posts\/46038\/revisions"}],"wp:attachment":[{"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/media?parent=46038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/categories?post=46038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/tags?post=46038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}