Maker's Token Surges 30% And DAI Stablecoin Surpassed UST

Maker's token surges 30% and its DAI stablecoin also became the fourth biggest stablecoin by market cap thanks to the UST crash as we can see more today in our latest altcoin news. Maker's token surged 30% overnight and the DAI stablecoin benefited from the UST crash which slipped below $0.30 and helped DAI to

Timeline of Multi-collateral-dai, Terrausd

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.

This isn't a very fun article to write. An entire ecosystem has blown up, and many lives have been destroyed. NFT projects, De-Fi apps, payment processing apps, Mirror, Anchor, Kash – these are just a few of the projects built on this once-thriving ecosystem. Even if you don't own a dollar of either Luna or The post What happened UST, and was it an attack? appeared first on Invezz.

In response to widespread rumors, hedge fund giants Citadel Securities and BlackRock say they don't trade any the notorious TerraUSD, a stablecoin that lost its peg to the dollar, wiping out $25 billion from the underlying asset.

Following the de-pegging debacle overtaking TerraUSD, several other stablecoins appear to have lost their peg to the dollar as well. The post Series of Stablecoins Lose Pegging Following TerraUSD (UST) appeared first on BeInCrypto.

CoinDesk reported Wednesday that Do Kwon, co-founder and chief executive of the development firm behind the Terra blockchain, was closely involved with an earlier stablecoin effort that failed to gain traction. The post Terraform Labs CEO pseudonymously co-created failed stablecoin project Basis Cash, CoinDesk reports appeared first on The Block.

I've been in cryptocurrency for a few years now, but I've never seen anything like the events of the last 48 hours. We have seen a stablecoin worth $18 billion – UST –  go poof, as well as the accompanying asset – LUNA – which was at its peak worth $42 billion. As I write The post Who is Do Kwon, and where did all go wrong for UST founder? appeared first on Invezz.

When the third largest stablecoin collapsed this week, investors lost more than $25 billion. They're going to be getting a great deal of attention over the next few days and weeks as the fall of the TerraUSD stablecoin lights a fire under the push to regulate the dollar-pegged cryptocurrencies and reignites a fight on Capitol