) and USDT are the most traded asset-backed stablecoins. Although they are all over-collateralized by fiat reserves and cryptocurrencies, USDC and USDT are centralized while DAI is decentralized.
DAI is minted when users borrow against their locked collateral and destroyed when loans are repaid. If DAI’s price is below $1, then TRFM increases the borrowing rate to decrease DAI’s supply as less people will want to borrow, aiming to increase the price of DAI back to $1 . The recent Terra debacle and the lack of transparency of their reserves triggered fresh concerns about USDT. The price reacted violently with a brief devaluation from $1 to $0.95. Although USDT’s price has recovered and repegged closely back to $1, the concerns are still there.
A similar imbalance is observed in the DAI/USDC/USDT/sUSD 4pool. It is interesting to see that sUSD and USDT both spiked in proportion around May 12 during the peak of the stablecoin fear. But sUSD has quickly reverted back to the equal portion of 25% and has even dropped in percentage since while USDT remains as the highest proportion in the pool.The Curve 3pool has a daily trading volume of $395 million and $1.4 billion total value locked .
It's annoying! People are waiting for the crash of every stablecoin. Get nothing! And about USDT a few days ago it was panic only!
Good thing I used usdt
Only the atronges will suvive
Do Kwon = Don Cagón
Yes, it’s a warning for $USDT
floki
I lost everything no FUD. stablekwon and his cronies will come through. I’m feeling confident.
It's dead. Over. Stop making articles about it
Yes.
elenahoolu Fortunately, I did not invest in LUNA, cloud mining is much more stable than these😂
elenahoolu proposal if the terra luna team puts terra 2.0 0r 3.0 out all money for terra luna the whole community together will show that we matter...
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In Light of UST and LUNA Crash: G7 Countries to Discuss Crypto Regulations (Report)The Group of Seven (G7) members could touch upon the topic of cryptocurrency regulations during their meeting this week in Germany.
Source: Crypto_Potato - 🏆 568. / 51 Read more »
Major Korean law firm decides to sue Do Kwon after UST collapseLKB & Partners, one of the top law firms in Korea, has reportedly decided to sue Terraform Labs founder Do Kwon after UST's sudden collapse. Yogita_Khatri5 Yogita_Khatri5 Good news from PA! Yogita_Khatri5 It’s entertaining to see 👀
Source: TheBlock__ - 🏆 464. / 53 Read more »
Terraform Labs’ legal team resigns after UST collapseThe in-house legal team at Terraform Labs resigned shortly after the collapse of Terra’s algorithmic stablecoin. Wasnt the company dissolved already per gov filing in Sk before legal team said wuits? The way this whole 💩 fell apart it’s completely obvious this was a scam plain and simple. Bad part is this Kwon fuk boy still putting a spell on devs and retailers 🤷🏽♂️ but sooner or later it will catch up with him and end up locked 🆙 One line of resignation letter: “I’m not paid enough to handle this shitshow”
Source: TheBlock__ - 🏆 464. / 53 Read more »
South Korea Launches 'Emergency' Investigation Into Collapse of LUNA and UST – Regulation Bitcoin NewsSouth Korea's top financial regulators have launched an emergency investigation into the collapse of $UST and $LUNA. crypto cryptocurrency terra terrausd Smart move so well get to know who actually attacked $UST the names! cool 1 If he bought usdt instead of the money he spent on keeping UST , 2 If he did not print coins like crazy, 3 if he did not touch his Bitcoin reserves, now Luna was $ 50 and was recovering.
Source: BTCTN - 🏆 531. / 51 Read more »
Terra's Do Kwon Could be Summoned to Testify to Korean Authorities on UST-LUNA Fiasco (Report)South Korean authorities could reportedly summon Terra's co-founder - Do Kwon - following the UST and LUNA fiasco. They should lock him up before he does the same with terra2
Source: Crypto_Potato - 🏆 568. / 51 Read more »
US congress research agency weighs in on UST crash, notes gaps in regulationThe CRS analysis highlighted that in traditional finance, scenarios like such are guarded by measures like bank deposit insurance and liquidity facilities. Why everybody silent about this? I received nothing I wanted, but I received everything I needed. Yah banks are protected with infinity money. Must be nice to own a business that is protected.
Source: Cointelegraph - 🏆 562. / 51 Read more »