stablecoins | ForkLog

ForkLog 25 12.05.2022

Terraform Labs outlines additional measures to restore LUNA and UST

Terraform Labs proposed a number of measures aimed at restoring the algorithmic stablecoin UST and the cryptocurrency LUNA.

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ForkLog 25 12.05.2022

Media: Terraform Labs chief behind failed Basis Cash stablecoin project

CEO Do Kwon of Terraform Labs was one of the anonymous co-founders of the failed algorithmic stablecoin Basis Cash (BAC). CoinDesk reports this, citing sources.

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ForkLog 17 12.05.2022

USDT stablecoin deviates from its peg to the US dollar

Against the backdrop of market turbulence, the price of the stablecoin USDT tested the $0.94 level. Paolo Ardoino, chief technology officer of the issuer Tether, said that the reserves are enough to redeem all assets on a 1:1 basis with the US dollar.

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ForkLog 19 11.05.2022

Terraform Labs CEO outlines plan to rescue UST as LUNA tumbles below $1

Terraform Labs chief Do Kwon unveiled a plan to restore the price of the algorithmic stablecoin UST. Against this backdrop, LUNA breached the $1 mark.

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ForkLog 11 11.05.2022

Justin Sun to earmark $2bn to safeguard USDD’s peg

Justin Sun spotted signs of an impending attack on the algorithmic stablecoin USDD, launched on the TRON network in May.

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ForkLog 13 11.05.2022

QuadrigaCX co-founder earned $760,000 from UST collapse

The co-founder of the bankrupt Canadian exchange QuadrigaCX, Michael Patrin, took advantage of the decline of the algorithmic stablecoin TerraUSD (UST) and earned about $760,000. PeckShield researchers found this.

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ForkLog 52 11.05.2022

LUNA price plunges 86% as UST stablecoin slides

On Wednesday, May 11, the Terra ecosystem's algorithmic stablecoin TerraUSD (UST) again lost its peg to the US dollar. The cryptocurrency used to issue it, LUNA, collapsed by 76.4%, according to CoinGecko.

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ForkLog 25 10.05.2022

US Treasury secretary Janet Yellen comments on UST stablecoin incident

U.S. Treasury Secretary Janet Yellen urged Congress to pass legislation regulating stablecoins by the end of 2022. At a hearing of the Senate Banking Committee she referenced the incident with the algorithmic stablecoin TerraUSD (UST), which lost its peg to the dollar.

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ForkLog 18 10.05.2022

UST Stablecoin Loses Dollar Peg Amid Crypto-Market Collapse

Against the backdrop of the crypto market crash, Terra's algorithmic stablecoin TerraUSD (UST) again lost its peg to the US dollar. In the night of May 10, the asset traded below $0.62 (Coinbase).

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ForkLog 8 10.05.2022

Fed warns of risks linked to stablecoins

Stablecoins pose one of the risk areas for the financial system due to potential problems converting them into fiat. This is stated in the Federal Reserve's new Financial Stability Report.

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ForkLog 26 09.05.2022

Opinion: 91% of Anchor users slept through the UST incident

The withdrawal of $1.42 billion from the Anchor protocol on May 7 affected 11,400 addresses. These calculations were provided by SplitBrick DAO founder Pedro Ojeda.

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ForkLog 19 09.05.2022

LFG allocates $1.5bn to back the UST peg

The Luna Foundation Guard (LFG) Council will provide a $1.5 billion loan to OTC traders to back the {{AOPEN_1}}algorithmic stablecoin{{ACLOSE_1}} TerraUSD (UST) to the dollar amid market volatility.

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