Do Kwon Guilty, Powell Pivot & OpenAI’s $12B Run Rate | E2168

One thing called the Ankor protocol was offering a 20% yield Jason on people who held US within its protocol. Then a lot

of money got pulled out of Ankor and then suddenly a lot of people wanted to burn their US in exchange for Luna. That

led to a decline in the value of the stable coin and then that led to a

massive print on the Luna side devaluing the Luna token and then you had kind of a death spiral down to effectively zero

and tens of billions of dollars were lit on fire.