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

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?

Originally Posted on: https://www.coindesk.com/markets/2022/04/22/bailout-fund-backstop-or-bouncy-ball-heres-how-lfgs-bitcoin-reserve-might-work/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
By: Krisztian Sandor

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