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re: Official CryptoTalk Thread
Posted on 5/11/22 at 6:38 am to Saint5446
Posted on 5/11/22 at 6:38 am to Saint5446
I’ll be honest, I just don’t see how you ever fully trust UST again. It’s a stablecoin, it’s supposed to be risk off and that trust has been forever violated. I love the idea of algorithmic stablecoins, but this failure to stay pegged is a black mark against the entirety of the crypto sector. It also gives the government the example they wanted for why they need to come in and regulate stablecoins to protect investors.
Frustrating and I didn’t even own UST or Luna.
Frustrating and I didn’t even own UST or Luna.
2
Posted on 5/11/22 at 6:41 am to Ross
So what happened to UST that separated it from mirroring $1USD?
Posted on 5/11/22 at 9:44 am to Ross
quote:I wouldn't rule out government (or similar) actionthat caused this snowball. It didn't take that much money for a major actor to cause this and now theres a perfect excuse to swoop in and regulate.
t also gives the government the example they wanted for why they need to come in and regulate stablecoins to protect investors.
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