A "Black Swan" event is unpredictable beyond what is normally expected of a situation, is obvious in hindsight and has potentially severe consequences. Examples include the subprime crisis and subsequent meltdown of the banking sector in 2008 and the market capitulation following the start of the global pandemic. In the financial markets, or in any industry for that matter, Black Swan events are mostly known as negative. Still, history shows that these events are also a pivotal point of positive systemic change. I believe that the same process will apply to this event. The downfall of UST as an algorithmic stablecoin ... (full story)