Algorithmic stablecoins like USTC are backed by a basket of assets, such as LUNA and bitcoin (BTC), without depending on any centralized third party to hold those assets. Most of the tokens, however, fall victim to a “death spiral” – with outflows or sales of backing assets causing a sudden de-pegging of USTC-like projects.
DOJ Disputes Roman Storm’s Characterization of Tornado Cash Operations in New Filing
The DOJ charged Storm, alongside fellow developer Roman Semenov, with conspiring to commit money laundering, conspiring to operate an unlicensed...