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This thread on Agora analyzes the market movements surrounding the LFG peg defense in detail. We already knew about the OTC but it's interesting to look into the objective data. LFG says they sold 40k BTC a day but volume on exchanges didn't move. (1/2) https://agora.terra.money/t/proposal-to-the-luna-community-by-the-guy-who-forked-ethereum/32193 …pic.twitter.com/gUd4ZeHh4A
LFG didn't move quickly during an earlier large drop but acted fast to move reserves on D-Day. Volume does not show a large increase in UST buying pressure (while LFG claimed they were defending the peg). This confirms that the UST was sold via backroom OTC. Thoughts? (2/2)pic.twitter.com/1Eqvat2TfV
@cz_binance what your opinion about this?
Fatman, you think the funds will be used to repay even those who sold at 0.20 by taking various snapshots or only to those who held up to the postattack
Thank you for doing and sharing this research @FatManTerra the community will always value and remember your effort
....wondering...did they think that noone will re-check the volumes? ...most probably they were not expecting such a disaster to happen...
They lied
yeah been waiting for this. there is no way “deploying capital” was real. Some connected whales got to exit their huge UST exposure, at peg, while the market plunged and Gemini/Binance hide who. Annnnnnnd it’s gone.
Redit claims that no Btc went to Gemini. Its all on binance wallet
if the funds were used to make vc partners whole instead of buying ust on the market, do and others responsible should face criminal charges.
I wanted to believe this was an attack from outside, from which we could learn and come back stronger. but it more and more feels like LFG left us out to dry and saved the money for VC partners when shit hit the fan.
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