This is how a $40 billion crypto cult came crashing down #crypto #terraluna #stablecoin #dokwon

Name: This is how a $40 billion crypto cult came crashing down #crypto #terraluna #stablecoin #dokwon
Uploaded: 2026-01-19T13:01:22+00:00
Duration: 1 min 6 s
Channel: Hiten Shah
Description: Hiten Shah traces Terra/Luna's collapse from a $40 billion peak to ruin in a week. Do Kwon's UST stablecoin promised stability but crashed, wiping out…

19 Jan 2026 · 1 min

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1:06

Hiten Shah traces Terra/Luna's collapse from a $40 billion peak to ruin in a week. Do Kwon's UST stablecoin promised stability but crashed, wiping out millions. Kwon fled, faced Interpol, and pleaded guilty to fraud charges in August 2024.

Questions this video answers

$40 million

$40 billion

One week

January 2025 — pleaded not guilty

August (year not restated in clip) — pleaded guilty in the United States to two fraud charges

Chapters

This is Nationals Park. Inside is the Terra Club. It's a private lounge full of politicians and bankers. In the corner, a Korean man is sitting in a black hoodie. This man has just signed a 40 million dollar deal to sponsor the home team. His nickname, the King of the Lunatics. Two blocks away, a college student is booking flights home. He scrolls past Apple and Google, pay at checkout instead. The kid taps UST and pays with crypto. 5000 miles away in Montenegro, Interpol agents are putting together a case. The target has been on the run for nearly a year. But the hunt is almost over. They know that tomorrow he's on a flight to Dubai. This is the rise and fall of Do Kwon, the man who built a $40 billion religion around a cryptocurrency that collapsed in a week. In one week.
UST one of the most popular US dollar pegged stablecoin projects told totally collapsed.
We tried to build the best currency in the world and it just didn't work. In January 2025, he was on trial for his role in the crash and pleaded not guilty. But in August, he did a U.
Turn, pleaded guilty in the United States to two fraud charges. How did he convince.
Millions to believe in his product? And what were the lies that brought it all down?
It's a cycle of life. You begin from nothing and go back to nothing.