Treasury Secretary Janet Yellen highlighted the recent scenario around Terra’s (CRYPTO: LUNA) algorithmic stablecoin Terra USD (CRYPTO: UST) as an example of how digital assets pose a risk to the financial system.
What Happened: In a hearing on Tuesday before Congress, Yellen said: “A stablecoin known as TerraUSD experienced a run and declined in value. I think that this simply illustrates that this is a rapidly growing product and there are rapidly growing risks.”
