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MakerDAO returned to prominence after Terra’s UST collapse forced investors to search for a truly “stable” dollar pegged asset. Go to Source Powered by WPeMatico
These efforts are sure to help get many Terra projects back on their feet following last week’s devastating events. Go to Source Powered by WPeMatico
The Luna Foundation Guard updates the world concerning its crypto-asset reserves and shares a promise to compensate the remaining users of failed stablecoin UST. Go to Source Powered by WPeMatico
The British Treasury Department has affirmed its commitment to regulate stablecoins after the collapse of terrausd (UST) and terra (LUNA). “This will create the conditions for issuers and service providers to operate and grow in the U.K., whilst ensuring financial stability and high regulatory standards,” said an HM Treasury spokesperson. Regulation of Stablecoins in the … Read more
Vitalik Buterin has called for relief for the average UST smallholder who got lured in by promises of high stablecoin yields by crypto influencers. Go to Source Powered by WPeMatico
After the collapse of Terra’s once-stable coin terrausd (UST), a number of people wondered where the Luna Foundation Guard’s (LFG) bitcoin went, as the funds were supposed to be used to defend the UST’s $1 parity. On Friday, the blockchain intelligence and analytics firm, Elliptic, published a blog post that summarizes where the bitcoin was … Read more
The effect of Terra’s demise continues to shine a light on the fragility surrounding the decentralized finance (defi) ecosystem. Things have changed a great deal following Terra’s aftermath, as the total value locked (TVL) in defi has plummeted from $231 billion to today’s $112.29 billion, losing 51.38% in 42 days. Defi TVL Plunges More Than … Read more
With the nightmare nosedive of Terra’s LUNA and UST, the Shanghai High People’s Court declaring that bitcoin is virtual property protected by Chinese law, a surge in Bitcoin Obituaries, and some hoping for a rare triple top to appear for BCT, the past week has been full of shock, questions, speculation, and broader market resilience … Read more
Pointing out the potential issues with forking Terra, CZ said that “Minting, forking, don’t create value.” Go to Source Powered by WPeMatico
The dangers posed by stablecoins to the traditional market cannot be dismissed due to Tether’s exposure to the U.S. credit system. Go to Source Powered by WPeMatico
