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Latest from Sam Kessler
UST’s Do Kwon Was Behind Earlier Failed Stablecoin, Ex-Terra Colleagues Say
Basis Cash, an algorithmic stablecoin project founded by the anonymous “Rick” and “Morty” in 2020, was actually the work of Terraform Labs employees.
UST Backer LFG Seeks $1B to Shore Up Stablecoin Peg: Report
The funding is needed because the dollar-pegged stablecoin dropped as low as 60 cents Monday amid broader market turmoil.
UST Stablecoin Veers Wildly From Dollar Peg. Here's the Latest
By tapping into its bitcoin reserves, UST’s salvation may have exacerbated a bitcoin sell-off that brought BTC to its lowest price since July 2021.
UST Stablecoin Loses Dollar Peg for Second Time in 48 Hours, LUNA Market Cap Falls Below UST's
The development comes after the Luna Foundation Guard announced that its massive bitcoin reserves will be used to defend UST’s dollar peg.
Compound’s Enterprise Arm Receives S&P Credit Rating in DeFi First
The iffy B- grade applies to Compound Treasury, a platform promising 4% yield for USDC-denominated business accounts.
UST Stablecoin Briefly Loses Peg, Luna Drops 10%
The Saturday event led to questions about whether Terra’s bitcoin reserves will soon face their first test
Typo Moves $36M in Seized JUNO Tokens to Wrong Wallet
Validators, developers and token holders grapple with who is to blame for the copy-paste error that moved the tokens to an address no one can access.
Arweave-Based Bundlr Raises $5.2M to Boost Decentralized Storage
Bundlr aims to scale Arweave by allowing for near-instant transaction finality.
The Yuga Labs Catastrophe Could Have Been Prevented
Conspiracy theorists say Yuga Labs clogged up Ethereum to justify the launch of its own chain, but maybe the Bored Ape creators just screwed up.
DeFi Lender Rari Capital/Fei Loses $80M in Hack
Fei Protocol, which late last year merged with Rari, announced a $10 million bounty should the funds be returned.
