The algorithmic stablecoin UST lost its peg to the U S. dollar, here’s how it should usually work

Content Cryptocurrency Convert About Bitcoin Wallets A user sends US dollars to the coin issuer’s bank account. Circle claims that each USDC is backed by a dollar held in reserve, or by other “approved investments”, though these are not detailed. The wording on the Circle website changed from the previous “backed by US dollars” to …

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