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U.S. legislators have been stepping up their efforts to provide the crypto industry with a regulatory framework. A new bipartisan bill introduced by U.S. Senators Debbie Stabenow, John Boozman, Cory Booker, and John Thune is another step in that direction.
The list of not-so-stable stablecoins has a new addition, as Polkadot-based decentralized finance (DeFi) platform Acala saw its aUSD stablecoin crash by 99% after hackers exploited a bug in its liquidity pool.
The stablecoin lost its dollar peg and plunged to as low as $0.
Is Michael Saylor’s side of the story the reality of the situation? Or is he on a damage control tour? The ex-MicroStrategy CEO spent the whole day as a guest in what seems like every US financial show in existence, letting everyone know that this whole thing was his idea.