TerraUSD Tumbles As So-called 'Stablecoin' Appears Unstable - FinTech Brief

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TerraUSD Tumbles As So-called 'Stablecoin' Appears Unstable

Monday, May 16 2022

Written by FinTech News Brief

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TerraUSD, a planned stablecoin pegged to the U.S. dollar, fell as low as $0.26 amid a chaotic market last week. So reports CNBC.

arrow down icon 157360 1280 TerraUSD, also known as UST, is one of two projects from Terra. The other, luna, was also down significantly and had lost approximately 96% of its value in a week. UST has an approximate circulation of close to 16 billion coins.

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