Trader doubles down on $10 million bet against Do Kwon through LUNA short position

who made a $10 million wager over the future price of LUNA, has doubled down on his bearish bet by shorting the coin to the tune of another $10 million.that LUNA would be trading below $88 in March 2023. Kwon accepted and transferred $10 million worth of stablecoins to be held in escrow pending the outcome of the wager.by proposing bets of $50 million and then $20 million — although Kwon didn't respond to either offer.

GCR advertised the trade on his Twitter account, showing a $10.3 million short position on LUNA at an open price of about $90. "I think for LUNA to liquidate me, the market cap would have to reach the level of Saudi Aramco or something; [I] have quite a good amount of margin," GCR told The Block. Saudi Aramco, the world's biggest oil producer, is worth more than $2 trillion.

Since then, the price of LUNA has fallen sharply, down almost 50% from its peak, a situation further exacerbated by UST, he most popular stablecoin on the Terra ecosystem, temporarilyover the weekend. The token was trading for just over $60 at 10:15 a.m. ET on Monday, according to CoinGecko.

GiganticRebirth OsatoNomayo C’est interessant de voir le nombre d’ennemis que l’on se fait quand votre business fonctionne trop bien.

GiganticRebirth OsatoNomayo Do Kwon ever send his $10M to cobie 's wallet?

GiganticRebirth OsatoNomayo Do Kwon’t

GiganticRebirth OsatoNomayo 0xreira

GiganticRebirth OsatoNomayo VinnieVincee

GiganticRebirth OsatoNomayo Boss

GiganticRebirth OsatoNomayo Lol 10million in UST isn’t $10 million ☠️ RIP

GiganticRebirth OsatoNomayo GiganticRebirth made 6 milions on luna short today, if he loses he's only down 4. R:R 1:2,5 no too bad

GiganticRebirth OsatoNomayo Those shorts would've paid pretty well

GiganticRebirth OsatoNomayo

GiganticRebirth OsatoNomayo SwooneyWayne This guy doesn’t miss.

GiganticRebirth OsatoNomayo

GiganticRebirth OsatoNomayo shark and whale - shark on whales measurments

GiganticRebirth OsatoNomayo Savage

GiganticRebirth OsatoNomayo My favorite part is 'I think for LUNA to liquidate me, the market cap would have to reach the level of Saudi Aramco or something; [I] have quite a good amount of margin,' GCR told The Block.

GiganticRebirth OsatoNomayo Sharks smells blood 🩸

GiganticRebirth OsatoNomayo This guy been shorting for ever))

GiganticRebirth OsatoNomayo Damn...stablekwon getting slaughtered by OGs

davidbelle_ GiganticRebirth OsatoNomayo Damn... This guy is the opposite of saylor.

GiganticRebirth OsatoNomayo Chad

GiganticRebirth OsatoNomayo Lol crypto is the most entertaining space . What a time.

GiganticRebirth OsatoNomayo Definition of 'having balls'

GiganticRebirth OsatoNomayo lets go bear

GiganticRebirth OsatoNomayo Gigaboy don't know to whom he wins along with Btc

GiganticRebirth OsatoNomayo WanerPena

GiganticRebirth OsatoNomayo 10mil bet fml

GiganticRebirth OsatoNomayo Hopefully a lot of people follow him and start opening shorts at these levels

GiganticRebirth OsatoNomayo Soros-type-bet.

GiganticRebirth OsatoNomayo WHAT THE FUCK

GiganticRebirth OsatoNomayo KING!

GiganticRebirth OsatoNomayo GCR the only guy that flexes his position and still ends up winning

GiganticRebirth OsatoNomayo RIP Do Kwon

GiganticRebirth OsatoNomayo Oooff

GiganticRebirth OsatoNomayo Lol king shit!

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