, whose parent firms claim to hold actual dollars in back accounts to sufficiently back the values of USDT and USDC, respectively.
As an example, consider Terra’s LUNA and UST tokens. A sudden fall in LUNA prices affects UST's entire stabilizing mechanism because users can no longer redeem their $1 of UST for $1 of LUNA. This creates a downward spiral as falling UST prices affect sentiment around LUNA, and a LUNA sell-off leads to lower UST prices.
shauryamalwa JPRubin23 dont worry itll go up again!!
shauryamalwa JPRubin23 You can make a quick 25% right now by buying $UST with any stable coin or LUNA as it pegs back to $1. It went from $0.30 to $0.75 today. Don't lose this opportunity! Easy money!
shauryamalwa JPRubin23 It was a coordinated bad-faith attack. Do research and investigate.
shauryamalwa JPRubin23 Looks like inflation has overtaken the Terra USD stablecoin (UST) failure to explain the fall.
shauryamalwa JPRubin23 Can you post it one more time plz ? I Canot read it the first 300 times
shauryamalwa JPRubin23 The real question is....who borrowed the 100K BTC to short? Has to be a big institution......what normal person has that kind of money? SECGov and GaryGensler will turn the other cheek and go after the small fish as usual. Hmmmm, Kenny G?