98% sure LUNA/UST is coordinated by big money.
They found a literal short/long ATM machine.
AKA trigger a UST dump and short. LFG has to repeg it. When LFG deploys funds cut short and long.
When funds are depleted, repeat.
This is evil.
That we now have a decentralized stablecoin competing in the league of USDC and USDT is one of the greatest achievements in cryptoland in the past couple years.
Centralized stables are an Achilles Heel of our industry. Let's move past them with haste.