A look at Do Kwon's algorithmic UST stablecoin, designed to trade at $1, after it fell as low as $0.60; CoinMarketCap says there are 18.5B UST in circulation (Stacy-Marie Ishmael/Bloomberg)

Stacy-Marie Ishmael / Bloomberg:
A look at Do Kwon's algorithmic UST stablecoin, designed to trade at $1, after it fell as low as $0.60; CoinMarketCap says there are 18.5B UST in circulation  —  Algorithmic stablecoins, like their more “traditional” counterparts, are supposed to provide calm in the chaos of crypto.