Terra (LUNA)

I see people saying Q1 2026 is the worst market they’ve experienced.

If you think so, you probably weren’t here in 2022 when everything actually broke.

Here’s what that looked like:

1. Terra (LUNA/UST) collapse (May 2022)

> $40B–$60B wiped out in days
> UST lost its $1 peg
> LUNA went from $80+ to near $0
> Triggered the entire crypto bear market

2. Celsius collapse (June/July 2022)

> Froze withdrawals for users
> $4.7B of user funds locked
> Huge gap in finances
> Promised high yields, couldn’t sustain it

3. Three Arrows Capital (3AC) (mid 2022)

> $3.5B hedge fund wiped out
> Over-leveraged positions
> Collapse spread fear across the market

4. Domino effect (BlockFi, Voyager, Genesis)

> Multiple lenders went bankrupt
> Caused by exposure to failed firms
> Created a full-blown liquidity crisis

5. FTX collapse (November 2022)

> $32B company - bankrupt
> $8B hole in customer funds
> Misuse of user deposits
> One of the biggest trust collapses in crypto history

6. Crypto market crash

> Bitcoin dropped below $20K
> Entire market lost massive value
> Mining and liquidity got hit hard

7. Regulatory pressure & sanctions

> Tornado Cash got sanctioned
> Increased global scrutiny on crypto
> More restrictions started coming in

21 projects have shut down in the past 3 months.

It’s not new.

Here are 5 of the biggest shutdowns in crypto:

> Terra (May 2022)
- $40B–$60B wiped out
- LUNA went from $80+ to basically $0

> FTX (Nov 2022)
- $32B company
- $8B–$9B in customer funds missing

> Celsius (June/July 2022)
- Billions in liabilities
- Withdrawals frozen, users locked out

> Three Arrows Capital (3AC)
- $3.5B fund liquidated

> BlockFi & Voyager
- Billions lost after FTX exposure

Bear Market

to many exploit rn

remember ftx and luna