Why is USTC pumping? Over 700% in 3 days

Terra's supposedly “dead” cryptos are defying the bear market. The algorithmic stablecoin TerraUSD Classic (USTC) has caught fire again, reclaiming over 700% value in the past couple of days in spite of the crumbling cryptocurrency market.

Timeline of Terrausd

Regulators are paying more attention to UST than ever before due to the collapse of the algorithmic stablecoin TerraUSD so let's read more today in our latest cryptocurrency news. Luna collapsed, TerraUSD crashed and now this is becoming a big thing.

Brazil-based crypto exchange Nox Bitcoin announced it will spend 620 million Brazilian reais to reimburse UST holders, crypto news outlet Portal do Bitcoin reported. The post Brazilian crypto exchange refunds all UST holders 1:1 appeared first on CryptoSlate.

Luna collapsed, terraUSD collapsed and this is now going to be a Big Thing. I would go so far as to say that UST's collapse, as dramatic as it was, will have a legacy similar to Libra's.

In a recent interview, Mike McGlone, a Senior Commodity Strategist at Bloomberg Intelligence (Bloomberg's research arm on the Bloomberg Terminal”), shared his thoughts on the collapse of $UST. Speaking in an interview with Cointelegraph, McGlone said the $UST price collapse was a warning to the rest of the crypto industry on the dangers of algorithmic stablecoins. $UST, which most investors originally

A cryptocurrency exchange in Brazil has taken the unprecedented step of spending its own money to refund customers for their TerraUSD coins at the full rate. The post Brazilian Crypto Exchange Refunds TerraUSD (UST) at $1 for Customers, a New Precedent Set?

Billionaire Sam Bankman-Fried, who is the co-founder and CEO of crypto exchange FTX, says that Terra's stablecoin collapse was a case of “mass enthusiasm” rather than deceit.  In a series of tweets, the 30-year-old FTX CEO, whose nickname is “SBF”, tackled TerraUSD's price collapse. The stablecoin, supposedly pegged to the value of $1, plunged to

After 10 long days, Mike Novogratz broke his silence on the Terra/ Luna situation. Considering that he was one of the protocol's main proponents and even got a Luna tattoo, the community's interest in Novogratz's opinion is justified.

A nonpartisan Congressional research agency is hinting that stablecoin regulations are becoming more likely following the recent disintegration of TerraUSD (UST). In a new report by the Congressional Research Service, the stablecoin industry lacks the regulations found in traditional finance systems that safeguard investors. “Many observers consider the stablecoin industry as not adequately regulated. While The post Congressional Research Agency Hints at Stablecoin Regulations Following TerraUSD (UST) Collapse appeared first on The Daily Hodl.

Terra's legal team resigned as UST lost its dollar peg and collapsed, pushing the Luna token to zero, according to sources familiar with the matter. As reported by the crypto publication The Block on Tuesday, some members of Terraform Labs' legal team left as the crypto markets roiled from UST's failure. The blockchain firm, the The post Terraform Labs' legal team quit as UST collapsed appeared first on Invezz.

The in-house legal team at Terraform Labs resigned just days after the collapse of Terra's algorithmic stablecoin. The post Terraform Labs' legal team resigns after UST collapse appeared first on The Block.