Why Does Controversial UST Coin Threaten Bitcoin and Crypto Market

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By Rob Lenihan UST, or TerraUSD, tumbles along with its sister coin luna following massive withdrawals from Terra’s Anchor Protocol. The cryptocurrency market shuddered Wednesday after the stablecoin UST plummeted to an all-time low of 30 cents. UST, or TerraUSD, was off about 9% to $0.427965, while its sister token Luna was falling nearly 40% to $1.59 at last check, according to CoinGecko, down a staggering 99% from its April 5 all-time high of $119.98. TerraUSD briefly lost its dollar peg over the weekend, pulling down Luna as well. Bitcoin, the world’s largest digital currency, was off 7.5%…

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