Crypto Research
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Crypto Chat: Terra's UST stablecoin unraveled last week and the entire crypto market was shaken up, now what?
Last week Terra’s UST (UST 1.02% ) took a drastic plunge, losing its dollar peg, shaking up the crypto market, and the incident exposed the weakness of algorithmic stablecoins. Walter Teng & Carrie Presley discuss the Terra Luna (LUNA -4.53% ) ecosystem, including recent developments from Do Kwon, co-founder of Terra Luna blockchain. CRYPTO WEEKLY: THE UST UNWIND AND ITS IMPLICATIONS CRYPTO MARKET UPDATE FROM SEAN FARRELL
THE MAKINGS OF A QUASI-BANK RUN As if investors needed more reasons to be bearish, the market was thrown into a slight bout of chaos on Monday after a quasi-bank run on UST. Please refer to our prior work on the topic for further background information on UST’s functionality, Luna Foundation Guard, Anchor, and stablecoins. FIRST PEG-BREAK We have ample reason to believe that the “run” on UST 1.02% was not...
FOMC RECAP This week, investors were provided with one of the bigger “head-fakes” in recent history. The May FOMC meeting took place on Tuesday and Wednesday, after which Jerome Powell announced a 50-bps rate increase to the target Fed Funds rate and plans to commence with the balance sheet runoff less than a month from today. While these measures were largely priced in, his statements did take the risk of...
