Terra’s ‘vortex of death’ brings scrutiny from South Korean regulators
South Korea’s financial regulators came together on Tuesday to discuss how to address fallout from this month’s collapse of the TerraUSD stablecoin. The Financial Supervisory Service (FSS), the Fair Trade Commission (FTC) and the Financial Service Commission (FSC) shared updates following an emergency meeting held at the National Assembly, according to local news reports. TerraUSD, an algorithmic stablecoin on the Terra blockchain known by its ticker UST, de-pegged from the dollar in catastrophic fashion this month, destroying more than $40 …