> This is not correct. They used those bitcoins to try to defend the peg.

My understanding is that its more likely that they were allowing connected insiders to cash out at face value rather than "trying to defend the peg" at the prevailing market rates.

No public evidence of that as of now, but it could definitely be true. The interesting thing is that it doesn't really matter, those "insiders" would have dumped the coins in the open market breaking the peg even further. So yeah, maybe LFG could have sold the bitcoins a bit better in the open market, but I don't think that it would have made a difference.

There’s no public evidence that they were defending the peg. Statements from these charlatans aren’t evidence and shouldn’t be believed without clear evidence of transactions. And I don’t there is any evidence of the transactions using the missing $3B.

You’re actually defending (alleged) collusion, (alleged) fraud and (alleged) insider trading on the basis that the ship was going to sink anyway?

I'm not defending anything, just pointing out the obvious.

But yeah, I'll be surprised if Do Kwon doesn't end up sitting in front of a judge

That seems to be the spirit of most crypto advocates...