Events that lead to the market crash/ Terra Luna recap: -Do | One Punch Calls (OPC)

Events that lead to the market crash/ Terra Luna recap:

-Do Kwon dissolves Luna’s Korean entity.

-Federal govt raise interest rates. This is the first thing that triggered the crash.

-A few massive withdrawals from Anchor, Terra-based decentralized finance occur dropping UST deposits from $14 billion to $11.2 billion.

-UST becomes depegged and takes Luna down with it. Both tokens continue on a downward spiral.

-LUNA foundation Guard sells more than $2,400,000,000 in BTC for UST

-ETH was also sold to help support UST.

-Binance and crypto.com suspend Luna trading

-crypto.com resumes Luna trading

-Terra blockchain temporarily halts trading

-Do Kwon faces death threats

-Binance and Huobi resumes Luna trading

-Crypto.com reverses profitable Luna trades

-Do Kwan proposes Terra Luna fork but leave it up to community vote

-South Korea Launches an emergency investigation into Terra

-Coinbase says it will suspend UST and WLUNA on May 27th

-BNB chain offers support for projects migrating off the Terra chain

-South Korean law firm LKB sues Do Kwon on behalf of those who lost money in UST.

-84.6% of people vote for Terra to fork rename and create a new blockchain for $LUNA without $UST. The old chain to be called Terra Classic (token Luna Classic - LUNC), and the new chain to be called Terra (token Luna - LUNA)

-Terra form labs owes $78.5 million in taxes to South Korea