One of the most popular stablecoins, TerraUSD (UST), is no longer stable. Within the past few days, UST has lost its peg to the US dollar twice and has since dropped as low as US$0.6923 (S$0.96) at the time of writing. The stablecoin’s market capitalisation dropped from about US$18 billion to as low as US$12.6 billion. So, what caused TerraUSD’s.
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