🥛 Luna: The Biggest Winners and Losers

And what's on tap from here for Luna May 16, 2022 | [Read Online]( GM. This is the Milk Road - we give you all the crypto news you want and need. Shaan’s back from Hawaii and Ben spent all weekend binge-watching the new season of Atlanta, so let’s get right into it: Estimated read time: 2 minutes and 57 seconds - 🧐 The winners and losers of Terra - 📈 Chart of the Day - 🤣 Meme of the Day WINNERS & LOSERS OF THE TERRA DOWNFALL We’ve covered what happened ([here]() and how it happened ([here]() in the Great Depegging of 2022, aka the fall of the Luna empire. Now it’s time for a game called Winners & Losers. Let’s start with the Winners. 3rd Place: Janet Yellen & the Regulators - Stablecoins are the biggest threat to the dollar because they are what crypto people use for transactions - UST collapse is a great excuse for increased regulation. She already said so, and so did the UK 2nd Place: Freddie Raynolds - In November, he explained exactly how someone [could attack Luna]( - Do Kwon's response? The idea is retarded - Well turns out ol Freddie was right and got the last laugh. One of the top 5 feelings ever 1st Place: Everyone shorting /betting against Terra - The guy who made the $10M bet Terra would fail. He won the bet, and actually hedged his downside and it cost him only $0.72 to hedge his $10M bet ([we covered the bet here]() - The group who did the ‘attack’ (I put quotes, because not everyone agrees it was an attack) is rumored to have pocketed $900M+ - Plus, a future book deal or Kevin Spacey movie is definitely coming Losers: I got 5 for you. The Milk Road Public Wallet - Had $200k of Luna. Last month that was worth ~$600k. Now it’s worth the same as the lint in your pocket - We lost $200k. I repeat, we lost $200k. - Had to answer “hope you’re OK” texts like we have a lump on our prostate. Of course we’re OK!! This is big boy investing. We all take Ls at some point The Retail Investor - Got rekt All the VCs who invested - Big names, Jump crypto, Polychain, Tribe, Binance, Coinbase Ventures etc.. - Especially Mike Novogratz who got a tattoo on his arm (maximum regret). - Milk Road Rule #46, never get a tattoo of a girlfriend or token. They’ll both leave you cold, alone, and penniless. [Twitter profile image for Mike Novogratz] Mike Novogratz@novogratz [Twitter Logo] I’m officially a Lunatic!!! Thanks [@stablekwon]( And thank you my friends at Smith Street Tattoos. Jan 5, 2022 8.01K Likes 1.32K Retweets 1.99K Replies Do Kwon - The bigger Luna got, the cockier he became, shitting on non-believers on twitter - Now he’s hearing it back, 10 fold - Got publicly rekt - Lost the personal $10M bet too - Named his daughter Luna. In all seriousness, that may not end well. Imagine naming your son Enron if you were the CEO of Enron Other crypto projects: - UST was “too big to fail” but failed. There will undoubtedly be impact on other projects because of this. - The market cap was as high as $41 Billion. And it went to 0 in one day. Unlike Lehman Brothers, there’s no bailout coming. - They had bought ~$3-4 B of bitcoin and have less than $10M now. That’s a lot of sell pressure that they provided to drive the Bitcoin price down - Gives defi a bad name to regulators and normies - Reinforces the meme that crypto is “too risky” and is a “house of cards.” Just because one thing went bad, doesn’t mean it will all be bad. Just like in the dot com crash, some companies went belly up, but even Amazon share price went all the way down to $5 because it got lumped in. Guilty by association. So, what happens next with Terra? The community is currently voting on a few proposals. Here are the top two proposals: The Revival Plan – proposed by the original Terra founders They want to “fork the chain” and create Terra 2.0 based on the day before the attack (basically, a do-over). They would print 1B new tokens and give them out to holders based on what they had before the chain died. Many are skeptical, because you can’t print your way out of bankruptcy. The FatMan Proposal - proposed by a guy named FatMan He basically wants to make all the small wallets 100% whole. This is like FDIC insurance at a traditional bank. The government insures you up to $250K for your deposits. He wants to take whatever is left of the Luna Foundation Reserves. This might sound like a good idea, but there’s one problem: there’s only ~$10M worth of BTC left in the reserves… They sold the other $3B+ last week in their attempt to save the peg. The community is discussing and voting between these and similar proposals as we speak and you know we'll update you when something passes. TODAY'S MILK ROAD IS BROUGHT TO YOU BY WILLOW Wanna make more money from your socials? Willow turns your link-in-bio into a landing page with your most important links. Their Gumroad integration and tipping feature means you can [boost revenue by allowing audiences to buy things and tip directly](from your bio. You can also customize the layout and background to match your brand. Willow is the perfect tool for online professionals who want to make it easy for their audience to find and support their work. So, why wait? [Sign up for Willow today](! CHART OF THE DAY: The amount of venture money coming into crypto startups isn’t slowing down…yet. There was a total of $9.2B invested in Q1, a new all-time high. The size of the checks is also growing. There were a total of 28 rounds of $100M+ in Q1 - up 65% from last quarter. 13 of these were $200M+...talk about a strong start to the year. MEME OF THE DAY [Shaan aka “Elon’s chocolate milk”]( & [Ben "2% Milk" Levy]( See ya tomorrow! A Review from the Road... 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