1/ Over the last few weeks, we at Jump Crypto have been studying the UST depegging and have three key observations.

2/ First, the episode was triggered by a combination of trades in the UST/3CRV pool during a seventy-five minute window on Saturday, May 7.
3/ These trades involved TFL withdrawing UST liquidity, and two wallets putting large UST sell orders through the pool, upsetting the pool’s balance and depth.
4/ Second, outflows from Anchor — particularly overnight on May 7 and on the morning and early afternoon of May 9 — put substantial pressure on the UST peg.
5/ Large depositors disproportionately drove the outflows. In fact, small depositors increased their exposure during this episode.
6/ Third, the crypto market selloff on May 9 added additional pressure to UST, which may have finally pushed it off the peg by several hundred basis points.
7/ As a coda to the depegging, as the on-chain burn mechanism started printing LUNA to burn UST, the supply of LUNA skyrocketed and the price of LUNA collapsed.
8/ You can read the full piece here: https://t.co/KhYNyfJ7Ai

Did we miss anything? Let us know @theshah39 @maherlatif_

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1. Mini Thread on Conflicts of Interest involving the authors of the Nature Toilet Paper:
https://t.co/VUYbsKGncx
Kristian G. Andersen
Andrew Rambaut
Ian Lipkin
Edward C. Holmes
Robert F. Garry

2. Thanks to @newboxer007 for forwarding the link to the research by an Australian in Taiwan (not on

3. K.Andersen didn't mention "competing interests"
Only Garry listed Zalgen Labs, which we will look at later.
In acknowledgements, Michael Farzan, Wellcome Trust, NIH, ERC & ARC are mentioned.
Author affiliations listed as usual.
Note the 328 Citations!
https://t.co/nmOeohM89Q


4. Kristian Andersen (1)
Andersen worked with USAMRIID & Fort Detrick scientists on research, with Robert Garry, Jens Kuhn & Sina Bavari among


5. Kristian Andersen (2)
Works at Scripps Research Institute, which WAS in serious financial trouble, haemorrhaging 20 million $ a year.
But just when the first virus cases were emerging, they received great news.
They issued a press release dated November 27, 2019:

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