Stablecoins
Terra Proposes Token Burn and Increase in Pool Size to Stop UST Dilution
As algorithmic stablecoin UST and luna (LUNA) continue to fall precipitously, Terra has proposed to burn UST and increase the available pool of luna as a solution to the crisis. "The Hash" team discusses the plan and whether or not it could save Terra from total collapse.
Crypto in Focus on Capitol Hill
The House Financial Services Committee is holding a hearing on the Financial Stability Oversight Council with Janet Yellen. Separately, the House Agriculture Committee is expected to hold a hearing on the FTX disintermediation proposal. CoinDesk’s Nikhilesh De discusses what to expect. Plus, reactions to EU reportedly looking to ban large-scale stablecoins.
Terra, Web 3 and Acceptable Risk in Innovation
Garbage Day newsletter author Ryan Broderick is skeptical about what comes after Web 2. There are challenges and opportunities ahead.
Tether Loses $1 Peg, Bitcoin Drops to 2020 Levels of Near $24K
Weak sentiment around stablecoins may have contributed to USDT’s depegging Thursday morning.
The LUNA and UST Crash Explained in 5 Charts
One of the earliest signs that things were going wrong for Terra came when UST deposits on Anchor started dropping Saturday.
'$DAI Will Die' Tweet Twisted Back on Terra's Kwon as UST Loses $1 Peg
Terra's UST briefly fell below $6.5 billion in market cap on Wednesday morning, allowing DAI to be the fourth-biggest stablecoin on the market for a time.
Do Kwon Is the Elizabeth Holmes of Crypto
If you promise investors something impossible, is it a crime?
EU Commission Favors Ban on Large-Scale Stablecoins, Document Shows
The tough approach, originally targeting Facebook’s now-abandoned Libra project, could see rivals to fiat currency outlawed in the bloc after certain thresholds are hit.
