Dark Capital · DC-032
He designed the peg mechanism in 2019. In May 2022 it broke in 72 hours. $58 billion vanished.
TSD, the algorithmic stablecoin designed to maintain a dollar peg, dropped to 91 cents on May 7, 2022, triggering its redemption mechanism. Instead of stabilizing, TSD collapsed to four cents, resulting in a $58 billion market loss and wiping out 300,000 retail holders.
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