VCs sold UST near the top as it depegged. You held on all the way because Do told you he was working on a plan. Was 'the plan' a huge transfer of wealth from retail to whales? This is just what's public - what's behind the curtain is far more sinister.https://www.theblockcrypto.com/post/147668/terra-pantera-capital-cashed-out-80-investment-before-ust-crash …
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Dude, in the article they say they sold'"Roughly 80% over the last year, fairly gradually over time." Why do you say "VCs sold UST near the top as it depegged" ? You're not being accurate here.
The article is just to provide additional context. It's clear that big funds benefited through early transactions (LUNA/UST) all while Do Kwon publicly manipulated the market encouraging retail to stay in. The truly evil trades will come out later once the law gets involved.
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If there are sketchy things, we must call them out indeed. But this is not the case of this article IMO. Its a VC that gradually sells their investment, like most do. There is a disconnect between what you wrote in the tweet and the article that you shared.
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100%. I don't mind the context of the tweet, but misuse of sourcing really irks me.
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I think you're damaging everyone in this space by going the legal route. I *could* be wrong but I think you want the story of VCs / whales being given their exit to be true... It makes the loss of funds we all *voluntarily* committed easier to bear.
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I'm also worried that this is true indeed. The narrative of "everyone will be made whole again" wont be possible to implement IMO.
End of conversation
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big funds were smart enough to lock in returns
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This is literrally their job. They take risks by investing and if it pays out they cash out.
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