Is this the first Crypto bailout?

This whole UST de-pegging situation reminds me a bit of the 2008 crisis. The decentralized web is not so decentralized after all.

\- BTCs from LFG are gone. Of course, we all know why. Sounds like a very efficient decentralized governance took a quick decision.

\- Stableswaps and other “decentralized” protocols block the withdrawals or swaps of UST.


This whole situation I feel will bring even more regulation in the space, especially stablecoins. Considering that some protocols are not so decentralized makes them an easy target for regulators. Any thoughts?

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