| Founded | 2018 |
|---|---|
| Closed | 2022 |
| Country | South Korea |
| Sector | Crypto |
| Total raised | $200M+ (Arrington Capital, Pantera Capital, Coinbase Ventures, 2018–2022) |
| Collapse type | Sudden Collapse |
| Founder | Do Kwon |
Terraform Labs / Terra-LUNA
"South Korean algorithmic stablecoin erased ~$40B in 72 hours in May 2022—the largest single crypto collapse in history and the trigger for a global contagion wave."
Unexpected shutdown within weeks of a trigger
Key Events Timeline
Terraform Labs was founded in 2018 by Do Kwon and Daniel Shin to build Terra, a blockchain protocol built around the algorithmic stablecoin UST (TerraUSD).
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