Terra Ecosystem Collapses, Sam Bankman-Fried Buys Robinhood Stock, Crypto Trader Jailed For Ponzi Scheme: Hodler’s Digest, May 8-14
BREAKING: Blockchain Officially Stopped After LUNA Price Plunges
News about the Terra ecosystem made headlines this week after the algorithmic stablecoin TerraUSD (UST) lost its peg to the U.S. dollar and continued to crash.
UST fell to around $0.13 at its lowest point this week, according to CoinMarketCap.Meltdown also affects LUNA because it Symbiotic relationship with its sister assets. After reaching a high of $120 in early April, the value of LUNA plummeted to essentially zero this week.
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