TechFlow news, in response to Polygon's Chief Information Security Officer Mudit Gupta raising suspicions about yesterday's UST sell-off, Terra founder Do Kwon replied that the removal of 150 million UST from Curve was preparing for next week's deployment to 4pool, and the party selling 84 million UST was not us. After UST depegged, we withdrew 100 million UST to alleviate the depegging. Terraform Labs has no motive to unpeg UST.
Mudit Gupta, Chief Information Security Officer at Polygon, responded that this is merely a coincidence in timing. While Terraform Labs may have no motive to unpeg UST, if someone knew beforehand that it would temporarily depeg, there would be significant profit opportunities. I'm not saying Terraform Labs did it, but such an action would require coordination.
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