"So ironic that a crypto stablecoin gets rugged because its reserves were in a USA bank of which USA bank loaned those reserves to the FED... at which point, the FED raises interest rates and makes those 'loaned' reserves worth less money causing the USA bank to take a huge loss and go into FDIC control. Stablecoin now hammered down 10% because its reserves are kept in that same USA bank." — NanaimoTrader