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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.

Terra's UST stablecoin fell off its peg Monday amid crypto market turmoil. (moonjazz/flickr)
Terra's UST stablecoin fell off its peg Monday amid crypto market turmoil. (moonjazz/flickr)