Crypto Shorts Daily News Bulletin

LUNA Collapses Below $16 as TerraUSD Remains Unpegged

Mohak Agarwal

– TerraUSD’s value has deviated significantly from its dollar peg, leading to a massive arbitrage opportunity within the Terra ecosystem.
– The death spiral of LUNA’s price has likely been exacerbated by this opportunity, as traders trade their stablecoins in for LUNA and then dump it on the market.
– Binance has halted UST withdrawals from its exchange due to network slowness and congestion.
– Janet Yellen, Treasury Secretary of the United States, believes that stablecoins like TerraUSD pose risks to financial stability and need a regulatory framework.

luna cover LUNA Collapses Below $16 as TerraUSD Remains Unpegged
LUNA Collapses Below $16 as TerraUSD Remains Unpegged 2
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