How the UST crash changed the stablecoin landscape

Once the 3rd largest stablecoin, TerraUSD (UST) has shaken the entire stablecoin market after it collapsed on May 9. The post How the UST crash changed the stablecoin landscape appeared first on CryptoSlate.

Timeline of Terrausd-wormhole

According to FSInsight, a combination of economic pressures and over-leveraged yield plans has caused the forceful selling of cryptocurrencies in the previous few days. This has wiped off more than $200 billion in revenue from the digital asset market. Head of digital asset strategy, Sean Farrell, noted that “The decline of terraUSD (UST) and Celsius …

Investors are filing a class-action lawsuit against Binance's American arm, Binance.US, for allegedly falsely advertising investments in the algorithmic stablecoin TerraUSD (UST) as “safe.” Last month, algorithmic stablecoin UST lost its peg to the US dollar and collapsed along with its affiliated asset Terra (LUNA), wiping out $40 billion in crypto market capitalization. The investors, The post Investors Hit Binance.US With Class Action Lawsuit for Allegedly Misleading Customers About TerraUSD (UST) appeared first on The Daily Hodl.

1. Ban on payment for order flow  In what could be the biggest shake-up of US equity market rules, the US Securities and Exchange Commission (SEC) is considering a total ban on the payment for order flow (PFOF) practice, which has been growing in recent years to the detriment of small firms and other mom-and-pop investors.  Payment for order flow, which is when market makers pay brokers to execute their clients' orders, is already banned in Canada, the UK, and Australia.

Key takeaways: Terra community member Fatman has found loopholes in a report claiming that TerraForm labs caused UST's depegging event in early May. According to Fatman, the Terra wallet cited in the report does not belong to the Terra Classic DAO.

According to a new report, the wallet identified by multiple independent entities and blockchain analytics firms as the main culprit behind Terra's collapse could belong to Terraform Labs.

The company behind the failed Terra (LUNA) ecosystem, now dubbed Terra Classic (LUNC), Terraform Labs (TFL) could be behind the collapse of its native algorithmic stablecoin UST. Per a report from CoinDesk Korea, investigators linked the company to the attack that led to UST losing its peg to the U.S. dollar.

Disgruntled investors in California have filed a class-action lawsuit against Binance.US for listing TerraUSD and LUNA without disclosing UST as a security. The post Class-Action Lawsuit Filed Against Binance US in Northern California for UST Sales appeared first on BeInCrypto.

Background In May 2022, UST and LUNA, which once recorded a total market cap of over $40 billion, collapsed overnight, and plenty of users suffered huge losses as a result. Following the crash, algorithmic stablecoins have once again become a popular crypto topic.

Terra's LUNA and UST disaster is gradually settling, with more doubtful information regarding the company's work making its way into the public domain. There are controversies related to Do Kwon-related. Due to this consumers have come up with the legitimate question. It's all about what happened to the huge Bitcoin backing that was supposed to …

American regulators have waded into the aftermath of the terraUSD (UST) crash last month – and the coin's operators could face trouble at the hands of United States courts and the Securities and Exchange Commission (SEC).