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ForkLog 5 13.05.2022

Three Arrows Capital co-founder compared the UST crash to The DAO hack.

Co-founder Zhu Su of Three Arrows Capital, who previously invested in the LUNA token, commented on the collapse of the Terra ecosystem and the algorithmic stablecoin UST.

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ForkLog 9 13.05.2022

GAM Holding Denies Plans to Participate in Rescue of UST

The Swiss independent asset manager GAM Holding denied reports of talks with Terraform Labs to provide financial assistance to support the algorithmic stablecoin UST.

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ForkLog 7 13.05.2022

Hester Peirce urged to ‘leave room for missteps’ in regulating stablecoins

In overseeing stablecoin issuers, it is necessary to preserve certain exemptions to continue innovation. Securities and Exchange Commission Commissioner Hester Peirce said.

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ForkLog 13 12.05.2022

Anchor community proposes trimming UST deposit yield to 4%

The Anchor protocol community proposed reducing the target yield on UST deposits to 4% per year. It is hoped this will help restore parity of the algorithmic stablecoin with the US dollar.

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ForkLog 19 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 15 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 13 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 16 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 5 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 11 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 32 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 13 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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