* From Crypto Bros putting cash in Luna, hoping it will reach the moon, as the name implies. The foundation bought BTC as hedge in case Luna/Terra goes haywire.
That's where it gets incredibly funny. They persuaded everyone that UST was worth $10Bn dollars and then went and bought $3Bn of BTC with the profits. At which point the obvious question is "Hey - isn't this asset by definition worth $3Bn"? And the answer is "Oh, no, by the time it drops from $10Bn to $7Bn we've burned all our collateral and it's worth 0".
The even funnier aspect is that that instead of trying to stabilize the token or just liquidating all UST at 30¢ on the dollar, the creators decided to abscond with all the collateral and leave UST holders with nothing
* No, there's no proof.