Insurance protocols are paying out millions to UST holders

InsurAce, a DeFi insurance platform that offered cover against a UST de-peg event, has confirmed that they will be paying out $12 million in USDT to users who hold a valid policy. The post Insurance protocols are paying out millions to UST holders appeared first on CryptoSlate.

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Crypto exchange giant Coinbase is announcing plans to suspend trading of TerraUSD (UST) and Wrapped Luna (WLUNA) on all levels of the platform. Coinbase Assets recently made the announcement on Twitter that, in light of extreme volatility within the Terra (LUNA) ecosystem, UST and WLUNA trading will be suspended in two weeks. In light of recent volatility The post Crypto Exchange Coinbase Announces TerraUSD (UST) and Wrapped Terra (WLUNA) Trading Suspensions After LUNA Crash appeared first on The Daily Hodl.

The well-known Crypto mom calls for enhanced stablecoin regulation after the recent UST fiasco, as she signaled that this could come faster than expected after the recent fallout of the Terra ecosystem so let's read more today in our latest cryptocurrency news. Hester Peirce, the Crypto Mom calls for enhanced stablecoin regulation and said that

The cryptocurrency market recently witnessed one of its most significant downturns when primary tokens lost around 20 percent of their value in one day. Added to this decline is TerraUSD, labeled as a stablecoin linked to the US dollar.

For months now, Kevin Zhou, the co-founder hedge fund Galois Capital and former head of trading at digital asset exchange Kraken, has been sounding the alarm on the LUNA and UST issuer, Terraform Labs.

A dollar pegged stablecoin, TerraUSD has lost its peg twice over the past few days and has not recovered yet. The algorithmic stablecoin broke its peg this Monday again, hence it is necessary for regulators to have a look at this particular model of stablecoin. The collapse of TerraUSD has come up with several risks …

U.S. Secretary of the Treasury Janet Yellen is calling for legislation that will regulate stablecoins to eradicate the risks she believes they pose to financial stability. While testifying before the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Yellen said the government is already aware that stablecoins are currently operating in an inadequate regulatory The post Treasury Secretary Yellen Says Stablecoins Pose Financial Stability Risks, Cites Collapse of TerraUSD (UST) appeared first on The Daily Hodl.

A proposal on Anchor's governance system advocates drastically reducing the UST yield. The post Anchor contributors consider cutting UST yield to 4% from 19.5% appeared first on The Block.

Arca, a leading cryptocurrency hedge fund is likely one of the many victims of the dramatic fallout of the Terra (LUNA) ecosystem and its dollar-pegged stablecoin UST, Coindesk reports. Hedge Funds Hit With the LUNA, UST Collapse Just a few…

The UST dollar peg touched a low of $0.6 on May 10th. Shortly after the Luna Foundation Guards (LFG) finished building their $3 billion treasures last week, the stablecoin was challenged due to low liquidity. The de-pegging of the UST Dollar began with large withdrawals from Anchor's pool 53, and the UST Dollar fell from …

The Securities and Exchange Commission is likely already investigating what happened to UST over the past week, two former SEC lawyers tell The Block.  The post The SEC has already sued Terraform Labs. It has every reason to investigate UST, lawyers say appeared first on The Block.