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‘The Guilt Is Unbearable’: UST-Luna Investors Discuss the 99.99% Crypto Crash
The cryptocurrency market is in the middle of a widespread crash, causing investors serious financial pain with no clear way out. The most dramatic fall yet has been the collapse of the $30 billion Terra ecosystem: its token Luna, its algorithmic stablecoin TerraUSD (UST)—which is supposed to remain pegged 1:1 to the dollar—and associated lending protocol Anchor. The implosion has caused an unimaginable amount of pain for would-be investors as well as exacerbated an ongoing sell-off across crypto markets more generally. UST is currently trading at $0.15, and Luna has fallen from over $100 in April to $0.0001 ... (full story)