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Welcome to The Chopping Block! Crypto insiders Haseeb Qureshi, Tom Schmidt, and Tarun Chitra chop it up about the latest news in the digital asset industry. On this episode, Kevin Zhou, the CEO of Galois Capital and long-time critic of UST, also joined the conversation. Show topics:\n\nthe UST depeg and Terra collapse\xa0\n\nKevin on what it was like being one of the earliest naysayers of LUNA\n\nwhy Kevin believes that UST initially depegged and became a \u201cfear cascade\u201d\n\nhow Galois Capital traded the UST depeg, from shorting LUNA to keeping their UST in Anchor until the last moment\n\nwhy Kevin was disappointed in the lack of transparency in how Luna Foundation Guard attempted to defend the UST peg\n\nthe implications of UST\u2019s collapse across the crypto and traditional financial markets\xa0\n\nwhether Terra\u2019s decline will lead to more regulation in the crypto industry\n\nwhy Anchor was the \u201ccancer\u201d of the Terra system\xa0\n\nwhy VCs are reticent to say something bad about protocols they don\u2019t believe in\n\nwhy grifting is so much more prevalent in crypto\xa0\n\nwhat Jump Trading had to do with the Terra collapse\n\nthe difference between the way trading and VC firms interact with crypto\n\nthe issues with the Terra 2 proposal without UST\n\nwhich chains are receiving the people leaving the Terra ecosystem\xa0\n\nwhy Haseeb compared the collapse of UST to the collapse of the Soviet Union\n\nwho Kevin believes should be reimbursed in the aftermath of the UST collapse\n\nhow political considerations might affect how Terra continues to develop going forward\n\nwhy Terra NFTs were skyrocketing during the Terra meltdown\n\nwhether crypto is in a bear or bull market\n\n\nHosts\n\xa0\n\nHaseeb Qureshi, managing partner at Dragonfly Capital\n\nhttps://twitter.com/hosseeb\n\nTom Schmidt, general partner at Dragonfly Capital\n\nhttps://twitter.com/tomhschmidt\n\nTarun Chitra, managing partner at Robot Ventures\n\n\nhttps://twitter.com/tarunchitra\xa0\n\nRobert Leshner, founder of Compound\xa0\n\n\nhttps://twitter.com/rleshner\xa0\n\n\xa0\nGuest\n\nKevin Zhou, CEO of Galois Capital\n\n\nhttps://www.linkedin.com/in/kevin-zhou-82938324/\xa0\n\n\xa0\nPrevious Unchained Coverage\n\xa0\n\nNic Carter, Erik Voorhees, and Eric Wall on the collapse of UST\n\n\n https://unchainedpodcast.com/why-terra-collapsed-and-whether-an-algo-stablecoin-can-ever-succeed/\xa0\n\nDo Kwon on backing UST with BTC\n\n\u200b\u200bhttps://unchainedpodcast.com/do-kwon-is-backing-ust-with-bitcoin-and-heres-what-else-he-is-building/\n\n\nKevin Zhou on the risk of UST\u2019s death spiral\n\n\n https://unchainedpodcast.com/heres-why-usdn-depegged-from-the-dollar-and-why-ust-might-too/\xa0\n\nJon Wu on how Terra got depegged:\n\n https://unchainedpodcast.com/did-someone-deliberately-attack-terra-luna-to-kick-off-a-death-spiral/\n\nDo Kwon on The Chopping Block\n\n\nhttps://www.youtube.com/watch?v=0xl8u7-KVwM\xa0\n\n\xa0\nHaseeb\u2019s summary of the Terra collapse:\n https://medium.com/dragonfly-research/the-reign-of-terra-the-rise-and-fall-of-ust-208dabbc8e6e\n\xa0\nJon Wu\u2019s write-up on the UST Depeg\n\nArticle: https://www.notboring.co/p/terra-to-the-moon-and-back\xa0\n\nThread: https://twitter.com/jonwu_/status/1523793482850050048?s=20&t=lvB1zdz98wu5TE5emh4fCw\xa0\n\n\xa0\nTerra Background Info\xa0\n\nTwitter: https://twitter.com/terra_money\xa0\n\nUST Mechanics: https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c\n\n\nUST Bank Run: https://www.wsj.com/articles/crash-of-terrausd-shakes-crypto-there-was-a-run-on-the-bank-11652371839\n\n\nSpeculation of a deliberate attack: https://onchainwizard.substack.com/p/how-to-make-800m-in-crypto-soros?s=r\n\n\nDo Kwon\u2019s Proposed Terra\u2019s Revival: https://www.coindesk.com/tech/2022/05/13/do-kwon-proposes-restart-of-terra-blockchain-as-ust-luna-plummet/\n\n\nAnchor: https://twitter.com/anchor_protocol\xa0\n\nTerra 2.0: https://unchainedpodcast.com/do-kwon-has-a-new-plan-again/\xa0\n\n\nLearn more about your ad choices. Visit megaphone.fm/adchoices