So how did it happen and what happens next for investors, the project and the wider crypto space?Both UST and LUNA exist on the Terra blockchain and are overseen by the non-profit Luna Foundation Guard , which stockpiled roughly $3.5 billion in bitcoin and other cryptocurrency in the months leading up to the crisis in order to mitigate against such an outcome.UST is an algorithmic stablecoin, which means it is not backed up by dollar reserves in order to remain pegged to the fiat currency.
Ponzi schemes always fail.
It was in the fungible cards
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