A Luna-tic Stablecoin Crash

Harald Uhlig

After remaining close to 1 US Dollar since its inception in November 2020, the algorithmic stablecoin UST crashed in the two weeks of May 9th to May 15th, 2022, leading to a price collapse of the underlying LUNA token and the erasure of more than 50 Billion U.S. Dollar or 90% in market value

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Year of publication:	July 2022
Authors:	Uhlig, Harald
Institutions:	National Bureau of Economic Research (issuing body)
Publisher:	Cambridge, Mass : National Bureau of Economic Research
Subject:	Stablecoin \| Virtuelle Währung \| Virtual currency \| Wechselkurs \| Exchange rate \| Finanzkrise \| Financial crisis \| Währungskrise \| Currency crisis

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Extent:	1 Online-Ressource illustrations (black and white)
Series:	NBER working paper series ; no. w30256
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Notes:	Hardcopy version available to institutional subscribers
Other identifiers:	10.3386/w30256 [DOI]
Classification:	E41 - Demand for Money ; F31 - Foreign Exchange ; F32 - Current Account Adjustment; Short-Term Capital Movements ; G01 - Financial Crises ; G12 - Asset Pricing ; G23 - Pension Funds; Other Private Financial Institutions
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013334473