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Developers of the fast-growing stablecoin UST say the coin’s $1 value peg isn’t “backed” by anything – just a blockchain-based algorithm. So why does it need a multibillion-dollar bitcoin reserve, in case of an emergency? How would that work?
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- Bailout Fund, Backstop or Bouncy Ball? Here's How LFG's Bitcoin 'Reserve' Might Work
Bailout Fund, Backstop or Bouncy Ball? Here's How LFG's Bitcoin 'Reserve' Might Work
Written by Bankerage Published on April 22, 2022