Daniel Shin

Keyword reference — entries that mention this term in body prose.

2 entries reference this keyword in body prose.

Event September 8, 2026 Added September 8, 2026 Updated November 9, 2026 Altcoin / Stablecoin

Terra/Luna: No Collateral, a Death Spiral, and $40 Billion in Six Days

Bitcoin Institute ↔ Do Kwon

TerraUSD held its peg with an algorithm, not a reserve. In May 2022 the mechanism reversed: Luna's supply exploded from 343 million to 6.53 trillion, and $40 billion vanished in six days.

Event May 9, 2022 Added September 8, 2026 Updated October 23, 2026 Biography

Do Kwon (1991–) — Terraform Labs co-founder sentenced to 15 years for a $40 billion fraud

Do Kwon ↔ Daniel Shin

Do Kwon co-founded Terraform Labs and built TerraUSD, an algorithmic stablecoin that collapsed in May 2022, destroying $40 billion. He pleaded guilty to fraud and was sentenced to 15 years in 2025.