The selloff is also linked to the return of fears of rug pulls and crypto scams after the disaster of the algorithmic stablecoin UST and Luna coin, which both belong to the Terra ecosystem.

BTC)-backed stablecoin from Tether (CRYPTO: USDT) in the future. Aniket Verma Bankrupt Terraform Labs And Founder Do Kwon Reach Historic $4.47B Settlement With The SEC In The UST, LUNA Collapse ...

Former Binance CEO raises questions on the potential involvement of the infamous FTX exchange in the LUNA/UST crash or depeg ...

LUNA plummeted about 96% in just a 24-hour period after the network's stablecoin, TerraUSD (UST), de-pegged from the U.S. dollar and started a choppy descent May 9, creating a crypto bank run of ...

This is also the case for investors in UST, the sister token of Luna with which the crypto operated in tandem. UST has lost its peg to the dollar and is currently worth $0.149973. Its market value ...

such as Tether (USDT), USD Coin (USDC), and Binance Dollar (BUSD), have maintained their prices at around $1 despite the current crypto market slump. According to experts, the UST fiasco exposed ...