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What happened to terrausd (Ust-USD)?
TerraUSD ( UST-USD ), which was the third-largest stablecoin in the cryptocurrency market just a couple weeks ago, has since unpegged from the U.S. dollar and collapsed along with its reserve asset Luna ( LUNA1-USD ).How did terrausd crash affect FTX?
The links between the crash of the highly speculative TerraUSD and FTX-a much more mainstream player in the crypto market-could help explain how FTX’s losses mounted so quickly-and why it will be exceedingly difficult for FTX customers to get their money back.What happened to the price of terrausd?
The price of TerraUSD has plunged more than 31% as of 10 a.m. ET today, while the price of Terra has fallen more than 30%. Founded by the influential South Korean crypto developer Do Kwon, TerraUSD is a popular algorithm stablecoin. Traditional stablecoins are digital assets backed by real assets such as a fiat currency or commodity.What is the difference between Terra USD and Tether USDT?
Let’s try to compare these two stablecoins using the following points: Decentralization: Terra USD is a fully decentralized stablecoin but Tether USDT, the centralized authority of USDT means you need to have an equivalent amount of USD as reserves as collateral.