Stablecoins Are Not Stable Unless They are Backed by Assets. Here’s Why

The spectacular collapse of algorithmic stablecoin TerraUSD (UST), and a sister stablecoin LUNA, have shocked the crypto market. The collapse had affected the largest cryptocurrency bitcoin as well, hence this negative impact had made people completely pull out of the crypto market. Reacting to this, the managing director of IMF requested to not pull out …