UST Falls to 35 Cents, Terra Futures See $106M in Liquidations
Some 58% of LUNA traders were betting on higher prices even as the tokens fell yesterday.
Bitcoin Flirts With $30K During Asia Trading Day as Luna Foundation Guard Fights to Defend UST Peg
Glassnode analyst says change in exchange balance is due to LFG using bitcoin reserves to defend stablecoin peg.
Terra’s LUNA Drops to Almost $1 After 90% Weekly Plunge
Value locked on Anchor, Terra’s largest DeFi protocol, dropped some $11 billion in the past two days.
UST’s Bitcoin Reserve Too Late in Coming to Save Dollar Peg
Luna Foundation Guard buying billions of dollars in bitcoin without an infrastructure ready to deploy left Terra’s UST vulnerable to a “Soros-style attack,” an analyst said.
UST Resumes Spiral After Quiet Day Orbiting 90 Cents
Terra’s shaky stablecoin is prompting calls for closer regulation by key U.S. officials.
UST Backer LFG Seeks $1B to Shore Up Stablecoin Peg: Report
The funding is needed because the dollar-pegged stablecoin dropped as low as 60 cents Monday amid broader market turmoil.
Bitcoin Net Transfer Volume on Exchanges Rising to Highest Level in Over 4 Years
The amount of bitcoin flushed onto crypto exchanges is rising to its highest level in over four years. This comes as the Luna Foundation Guard drained its $1.5 billion bitcoin reserve and bought $850 million more in BTC to defend UST’s peg to the U.S. dollar, a move that could have created sell pressure.
UST Stablecoin’s Dollar Peg Collapse: What Happened and Why it Matters
Terra’s algorithmic stablecoin UST lost its dollar peg, falling as low as $0.65 before rebounding. “The Hash” panel discusses what happened, how we got here, why these developments matter and the potential impact on the wider crypto ecosystem.
Fed Issues Stablecoin Warning Amid TerraUSD Collapse
CoinDesk’s Nikhilesh De discusses a new report issued by the Federal Reserve warning of stablecoin risks as the TerraUSD (UST) coin lost its dollar peg, dropping as low as $0.65 on Monday. Plus, insights on how the UST collapse could pose a risk to the broader crypto ecosystem.