Reckless – Chapter 15: Financial Contagion

February 27, 2023

Chapter 15 of the book Reckless: The Story Of Cryptocurrency Interest Rates is published below. However, on 10th May 2022, UST continued to crash, reaching a low of US$0.68. The UST failure was in spite of an attempted defence by the LFG, which used up its reserves. On the 5th May 2022, the price of Luna was around US$85 per coin, a market capitalisation of around US$30 billion. 3AC BankruptcyAfter failing to meet margin calls and failing to pay its creditors, in July 2022 3AC filed for bankruptcy.

The source of this news is from BitMEX