The week when stablecoins displayed an unanticipated performance will live in the memory. Capacity to depeg. Terra’s TerraUSD (UST) dropped to a shocking $0.29 following the general meltdown of both crypto and financial markets, but it was also the headliner of stablecoins’ niche, while (USDTThe balance of ) was lost and the price dropped to $0.96 in a very short period.

The United States Treasury Secretary Janet Yellen felt it necessary to assure everyone that, given the stablecoins’ market size, depegging didn’t present a threat to America’s financial stability. She also stated that she was adamant about the need to protect America’s financial stability. Forwarded to lawmakers to develop a “consistent federal framework” on stablecoins to address risks. You can’t be too careful, right?

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