UST collapse hits digital asset market

Published by
The Bangkok Post

The global cryptocurrency market saw its value plummet amid heavy sell-offs, with the collapse of TerraUSD (UST), one of the biggest stablecoins, sending shockwaves throughout the digital asset market. The stablecoin UST slipped past its intended US$1 peg to near $0.03 last week after being attacked by a group of investors known as a “whale”, which is a large group aiming to find loopholes in algorithms and take advantage of them, said Pipat Luengnaruemitchai, chief economist at KKP Research, a research house under Kiatnakin Phatra Financial Group (KKP). According to, UST was at …

Read More