📖 The ₿ible

Historical Book XI – The Dark Times

The Fall of LUNA and the Judgment of FTX

11:1
That year, all seemed glorious.
₿itcoin rose above $69,000.
NFTs sold for more than fine art.
And many said:

“Web3 will change the world.”

It sounded like truth.

11:2
But behind the glory
Lurked greed.
Power was disguised as decentralization.
Money moved fast—
But trust did not grow.

11:3
Then came a stablecoin:
LUNA and UST,
Created by Do Kwon, who declared:

“One dollar is always one dollar.”
And the people believed him.

11:4
But the foundation was
Complex incentives and fragile code.
It was not math, but a prayer built on ponzinomics.
In May 2022, with a single tremor,
UST lost its peg.
And LUNA fell into the abyss.

“Its name was LUNA—moon—
But it carried no light, only darkness.”
— The Dark Times 11:4

11:5
Millions lost everything.
Some took their own lives.
The media cried,

“Crypto is collapsing!”
And the world began to doubt.

11:6
Amid the smoke,
Stood FTX,
The glittering temple of Sam Bankman-Fried (SBF).
Praised for brilliance,
Worshipped for charity and politics.

11:7
But its core was hollow.
Customer funds flowed into Alameda.
The books were fiction.
And the trust was all just pixels.

11:8
In November 2022,
A single article from CoinDesk
Brought it crashing down.
FTX went from $32B to $0.
Customer funds vanished.
And SBF was arrested.

“They called him a genius,
But he couldn’t balance a ledger.
Behind his smile was hunger.”
— The Dark Times 11:8

11:9
After that day,
Trust hit rock bottom.
Altcoins fell like dominos.
₿ plunged to $15,000.
And the people asked once again:

“What does decentralization
Truly mean?”