UST and a Ukrainian Family Cryptocurrencies and stablecoins c | Cryptocurrency Expertise

UST and a Ukrainian Family

Cryptocurrencies and stablecoins could be employed as an investment tool in times of financial turbulence and negative events (such as the Russian invasion of Ukraine). In any case, allocating some wealth into the asset class sounds like a better step than, for example, buying a property in a region ravaged by war.
Relying on that assumption, the resident of Kyiv – Yuri Popovich – invested all his family money (nearly $10,000) into UST (a stablecoin that, on paper, sounded like a less risky choice than most volatile cryptocurrencies since it was supposed to be pegged 1:1 with the US dollar).

“I am not a speculator; I just wanted to save money,” the man said.

Nonetheless, at the beginning of the month, the asset lost its peg against America’s national currency and currently hovers at a mere $0.06. Popovich revealed that due to this crash, his investment melted to $500.
The devastating loss also caused severe health problems to the man:

“I stopped sleeping normally, lost 4kg; I often have headaches and anxiety. My wife still doesn’t know about this loss. I don’t know how to tell her.”

Popovich noted that the current living conditions in Ukraine are extremely tough. With that said, UST’s crash and the consecutive “colossal amount” which the family parted with would make their lives even more challenging:
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