What would you do if USDT, USDC or BUSD plunges?

Soon USDT.

Tether goes down. Everyone die liao

different concept, UST support diff, the support went blown, USDT USDC diff backing, got real asset backing, they say la. Same thing, USD got gold support, if not u think?

Btc drops all the tiny miny coins get analed

USD got gold support?

Back by bulu

USD back by freedom. Doesn't matter you need it or not.

US already left the gold standard way back in 1971.

Already at 70 cents, hmm

It's $1.15 now,

I mean Luna

USDT don’t like to reveal things fully about their backings - not sure why so many people still use them. USDC and BUSD is safest now for stablecoins.

a theory of the events and how much UST-Luna attackers made:

https://twitter.com/OnChainWizard/status/1524123935570382851

Heard on the Street

Luna Wasn’t on Terra Firma

Algorithmic stablecoin TerraUSD shared the weaknesses of fiat currencies like the dollar but without many of its strengths

https://www.wsj.com/articles/this-stablecoi...share_permalink

LUNA is @ 0.000001 on FTX

Basically gone case

Dang....

Bought some luna at 0.006 thinking it can at least go 0.1...boy was i wrong

Do Kwon, the CEO of Terra creator Terraform Labs, was one of the pseudonymous co-founders behind the failed algorithmic stablecoin Basis Cash, CoinDesk has learned.
Basis Cash (BAC) was a closely watched revival in decentralized finance (DeFi) circles when it launched on Ethereum in late 2020, just before the launch of terraUSD (UST), Terra’s flagship stablecoin. Like UST, BAC sought to maintain a $1 peg through code, not collateral.
But it failed: The token of this long-abandoned project never achieved its target of dollar parity, sank below $1 in early 2021 and was trading well below 1 cent on Wednesday.
https://www.coindesk.com/tech/2022/05/11/us...colleagues-say/

This post has been edited by icemanfx: May 13 2022, 03:10 PM