Transcription
Okay, guys. We've got a significant buzz around the Jane Street documents, and the simple fact of the matter is this. There is a high chance that we could see anywhere from 2 trillion to 3 trillion coins burned as an end result because of this new case that's been opened.
And with all of my research that I've done, all of the evidence that I have available on the channel from the archive node, I've started to get a very good picture as to what happened during the crash and why so many assets were minted and how were they minted so fast, who had the insider information, and this document has told me everything that I need to know. And what I'm actually doing is giving you guys an ultimate breakdown in another video.
And what I wanted to do, because this is something that could take anywhere from 1 to 4 years, it took 4 years for Terraform to actually get to the point of them being ordered to go in and burn all of their assets as per the final judgment. Like I was saying, what I wanted to do, because that is going to take such a long time just in the same way as that it did with the final judgment, I wanted to give the community, those that are new here, a picture and really another route that we could go down to burn a significant portion of the USTC supply itself and maybe just maybe a huge amount of the LUNC supply. And this is why I think this video is more than needed.
So, if you're new here, the final judgment in the civil case against Terraform and Do Kwon, there's a specific section, and I'll leave a link to this in the description, but it basically states that they must burn all of their Terraform crypto assets being LUNC and USTC. And that's exactly what they did.
During the civil case, there was a document that was released called trial exhibit P301. This was the entirety of TFL's wallet list. All of the wallets that you see that have been highlighted as green have been burned at this moment in time. But there are eight wallets that have not been burned. And these eight wallets contain around 5.90% of the total USTC supply itself. And then there's four C X wallets. The issue with the C X wallets was we never had any memos, and we still don't have any memos aside the Binance exchange. And we'll get on to that shortly. But what I want to do here is now focus on these eight wallets specifically.
So going over to that document that I've got, and as you can see, we've got eight wallets containing a significant amount of USTC and a minuscule amount of LUNC across eight wallets. Ignore the C X wallets, as I said, we'll we'll speak about that towards the end of the video.
For those of you who are actually new here, and you don't really know how the burnings work so far, and how we've managed to get so many assets burned, it wasn't just TFL. It's been led through chain efforts. Yes, that's right. We as a blockchain in a decentralized manner, as a community, went ahead and we suggested that we should burn some assets that we had access to as a blockchain. And that's exactly what we did. And I felt that TFL weren't going to act in certain areas, and I was right. They didn't burn all of their assets. They definitely didn't burn those eight wallets that I showed you, plus the assets that are in the CEXs, because they had the memos redacted.
So the first one was the migration of Mirror Protocol assets, destroying around 46 million USTC coins, and then just going over and this is the great thing about decentralized technology. It's there, it's set in stone, and no one can ever come forward and say, "Oh, actually no, I did that. No, here's my moniker, here's me, everything is assigned to my validator on chain, and here's the discussion that we had."
So, it didn't stop at Mirror Protocol assets. I felt that Anchor Protocol was definitely needing to be dealt with. So, we went ahead, we proposed the same contract migration of Anchor Protocol assets, burning 729 million USTC coins. Guys, this is a huge amount of USTC supply that we removed on top of the Mirror Protocol assets. Again, this has been done through chain. Here's the discussion on Commonwealth, again putting my name to that burn specifically. And although I suggested it, although I proposed it, we decide as a community. Here, no CEOs, no devs, no singular point of control. It was decided in a decentralized manner by the community and its validators.
And what I'm trying to get at here, guys, is the fact that when we look at these eight wallets that I just showed you, it's not a situation where we're saying to you, "Well, this might happen, it might not happen." No, we can go in and do this within a matter of 14 days. 7 days for the discussion on Commonwealth and another 7 days to actually go ahead and vote on it through governance.
I want to also shout out Frag here because he went ahead and designed the contracts so we could migrate assets to the dead wallet whenever we wanted in a decentralized manner. And he burned 800 million USTC coins through that contract migration effort. And again, assigned to his name, his moniker, and in his discussion. Great thing about decentralized technology.
So, over and over and over again, we as a community have led burn efforts where we've gone in and we have directly burned assets. This is something that you're not going to find anywhere else in cryptocurrency. When have you ever heard shiv being able to go in and burn assets that were essentially minted excessively or they were put there in a bad fashion or they got into someone else's hands that was No, we can actually do whatever we want on this blockchain and all it takes is a smart mind to essentially come up with a contracts or the protocol or the tool or whatever. Everything is possible to a point of where we've got recovery tools. If someone hacks into your wallet, we can get your funds back if you're in that 21-day waiting period. These are all the amazing things that you can do. I could do like hundreds of videos just going over all of the insane things that we can do, we have done.
But what I'm trying to get out here is the fact that right now as a blockchain can go in and we can burn these eight wallets. We can do it in the same way we burned mirror, anchor, the way frag went in and burned 800 million USTC that belonged to someone that lost the keys, right? So, you see what I'm getting at here. This isn't a situation where I'm in a video saying to you, "Well, it's going to take 4 years and we could do this." No, we can burn 5.90% of the total USTC supply now. Do you know how much of a big burn that is? Yeah, it's huge.
And again, every time we've seen significant burns, we see significant pumps later and I could get up the price chart and we could correlate it to the quarter of a trillion and OUNC burn by TFL. We can correlate all of these other burns with USTC to the price action with USTC. Burning works, but it takes time. It alleviates sell pressure and something to pay attention to with the Jane Street situation is the matter of the fact that they're the ones that had the inside information, right? And I'm breaking all of this down in a video and going to give you guys an undisputable viewpoint that is in my own head in the way that I'm seeing things with the evidence that I've now got from both sides.
Who had the inside information to go ahead and cause the crash? Jane Street. Who crossed the line of no return? Jane Street. Who had the inside information and the ability to start hyper-minting assets first? Who would know that you could exploit the system? Jane Street. So the likelihood is right guys, they minted a buttload of assets and I've seen people on X like, well, you know, they would have sold them. Actually not. They were earning money through the mechanism itself, through the swapping.
All of the LUNC coins that were created, right, that were hyper-minted by these huge wallets that you're seeing here, that minted, you know, hundreds and hundreds of billions of coins. You know, there's like 11 wallets here, over 2 trillion coins in the top section of this chart. Who had the inside information to do this? Because there is a drastic difference between the number one hyper-minter of all time and then the number two position. Again, the Jane Street document, I'm breaking all of this down in the next video, the Jane Street document outlines further abuse, further MEV extraction. After they've run not one depeg, but two, right, two depeg attempts, they they did both of them, right, this has all come out in the document, they then further went on to extract more value and all of that is redacted, it's blacked out, you can't see it. So, where were they getting money from at that point? Where was there value to extract in the hyper-minting? And I have to express this, they would not been able to go and sell all of those coins, period. They are a byproduct. KYC was a thing then, this is something I did a lot of research on recently, it was still a thing then. So, they would have to put their names to those tokens and we know that they didn't. We know this because the hyper-minting data itself points to this.
Okay, so this is all of the hyper-minting that occurred for all time. So, now let's actually go in, okay, and let's look at the hyper minting that was specifically sent to Binance. And it's essentially all of it. Absolutely all of it. And all of those top wallets come up in it. So, everybody's sitting there and they're saying, you know, Binance that Well, not everybody. People like Greenpeace, they're saying that, oh, you know, this is Binance and they're accumulating. No, that the hyper minting data actually tells us this now. We now know that somebody abused the system. Somebody had insider information, and that person was Jane Street. And you would have needed to shift all of these assets off. So, you're probably asking, why would Jane Street send all of these assets off to a place like Binance? Create a lot of mystery. Lead us down the path that we've been down for the past 4 years. It's the perfect distraction. And everywhere you turn when it comes down to evidence available online like the Nansen report has been scrubbed. But you cannot scrub data on the blockchain, and that's where all of this comes from. Every single one of these transactions not only come with the transaction hash, but they come with the memo as well. And I mean, look at this. All of these coins were sent to Binance on the day. It's specific to Binance. And these are only the hyper minted wallets from the original data that you were just looking at before.
From my perspective, this begins to explain why we're likely to see such a huge burn. Going looking at the overall amount, because yeah, it's like 3 trillion coins overall that could be burned. And that's on the the extreme end of the scale. For all intent and purposes, it could be something between, I don't know, 2 to 2.5 trillion that were minted by Jane Street directly. And people say, you know, well, how are you going to buy all of those coins? Where will you get the money from? We won't. We just need confirmation. Once we get confirmation, we create a contract migration, we create some sort of contracts where we can go in and burn those coins. Because for all intent and purposes, they are ill-gotten gains belonging to Jane Street, the main cause of this point of the crash and I was saying when this person came in or well let's slow down guys then then then not the main cause you know they're a contributing No, they are basically the all in everything when it comes to the crash. So to answer everybody's long-standing question over the past four years who caused the crash Jane Street. TFL gave me information but Jane Street did the work.
Getting on to 15 minutes here. I want to summarize this video. We should go in and burn these eight wallets in the same way we've gone in and burned mirror burned anchor in the same way that frag burned 800 million USTC. These are assets that belonged to TFL. These are assets that Chris Amani missed when he said he would only miss dust. 5.90% of USTC supply is not dust my good friends. Because I had all of the hyper minting data because I was able to backtrack all of TFL's transactions for all time, I managed to locate their memo. And in locating their memo, okay, you're able to then look at how much they sent to Binance for all time and how much they sent back for all time and the numbers don't lie. You simply do the maths and the maths is telling us not all of it came back. So yeah, there's possibly at this point I would say anywhere between two and 2.8 billion USTC coins on Binance that belong to TFL that we could burn. And possibly we're going to see all of the LUNC that was sent by the hyper mints burned as an end result because it belongs to Jane Street. How insane is all of this? But yeah guys, this is within grasp right now. Jane Street's going to be anywhere between one and four years. Lots of good stuff going on on Terra Luna Classic. Guys, I really appreciate you subscribe. If you haven't already, drop a like, drop a comment, do all of those different things. I really appreciate it. Let the ads run and I'll catch in the next one.