A ‘stable’ coin lost its peg over the weekend and pledged $1.5 billion in Bitcoin trying to stabilize. Here’s how the algorithmic stablecoin was supposed to work—and didn’t

The most popular algorithmic stablecoin lost its dollar peg twice in three days.

Tomas Kauer - Moderator Tomas Kauer - Moderator
Jul 22, 2022 - 21:57
A ‘stable’ coin lost its peg over the weekend and pledged $1.5 billion in Bitcoin trying to stabilize. Here’s how the algorithmic stablecoin was supposed to work—and didn’t
The most popular algorithmic stablecoin lost its dollar peg twice in three days.