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

One thing called the Anchor Protocol was offering a 20% yield Jason on people who held UST within its protocol. Then a lot of money got pulled out of Anchor and then suddenly a lot of people wanted to burn their UST in exchange for Luna. That led to a decline in the value of the stablecoin. 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.

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