Major South Korean Exchanges Release LUNA Update Amid UST Debacle

Despite attempts from Terra and CEO Do Kwon to stabilize UST prices and restore the coin’s peg by deploying the LFG’s massive Bitcoin reserves, the stablecoin remains on the downtrend. 

After an initial recovery back to the $0.90 region, UST fell again to new lows. During trading hours on Wednesday, the stablecoin crashed as low as 30 cents on platforms like Binance.

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