When a traditional bank fails, a SWAT team of regulators swoops in, winding it down in secret and preventing a panic that could spread throughout the financial system. In cryptocurrency banking, the d...
Tag: USTUSD
Taking a deeper look into the UST-USD decoupling and how LUNA plummeted by 99%
TerraUSDT (UST) is (though “was” might be better)an algorithmic stablecoin whose stability mechanism stemmed from the promise of a payout with LUNA. Having traders mint and burn tokens as needed to en...
Lou Kerner Makes UST/USD Comparison, Stating Unbacked Things ‘Go to Zero’
In an appearance on CNBC’s ‘Power Lunch,’ Lou Kerner of Blockchain Coinvestors compared the U.S. Dollar to the failed stablecoin UST. The crypto VC categorized both currencies as “unbacked things” whi...
Terra crashed. What does it mean for other stablecoins? Here are the potential winners and losers
It’s the third day since TerraUSD, an algorithmic stablecoin designed to trade 1 to 1 against U.S. dollars, fell off its peg for an extended period of time. TerraUSD USTUSD, +4.36%, or UST, the 11th l...