UST is an algorithmic stablecoin that is supposed to stay pegged to the US dollar at $1. This means, 1 UST should always be convertible into 1 USD. However, in recent days, the stablecoin broke its peg and plunged to $0.14, losing its parity and wiping out over 85% of its value.

Cryptocurrency is a recent phenomenon that started around ten years ago. After Bitcoin was invented, several altcoins appeared on the scene including Namecoin and Litecoin. These altcoins promised improvements such as faster payments and scalability, and sometimes alternative use cases such as decentralizing existing internet services.

With the rise of Bitcoin, central banks all around the world are facing the inevitable digitization of money. Many central banks have started developing their own Central Bank Digital Currency (CBDC), including the European Central Bank, the Bank of the People’s Republic China and the Central Bank of Indi

Facebook recently renamed their company to Meta. This move comes in light of a broader vision to build the future of the metaverse.