Welcome to the Tech Mem Ride Home for Tuesday, May 10th, 2022. I'm Brian McCullough today.

A major algorithmic stable coin has lost its peg to the dollar.

More concerns of a slowdown as Tiger Global has racked up massive paper losses.

Match Group sues Google.

Has GDPR crushed the European App Economy?

Amazon engages mom-and and pop stores to deliver

packages and an interesting raise that is building the get-hop of

machine learning. Here's what you miss today in the world of tech. The U.S.T. St. St.

coin lost its U.S.D. Peg, falling as low as 60 cents on the dollar after the Luna Foundation Guard pledged one and a half

billion dollars of its Bitcoin reserves to bolster and support U.S.T. quoting Coin Desk. As U.S.T. quoting Coin Desk.

As U.S.T has de pegged the price of Luna, its sister token has dropped over 44% to 35 dollars

in the past 24 hours according to coin market cap.

U.S.T. a so-called algorithmic stable coin works with Luna to maintain a price of $1 using a set of on-chain

mint and burn mechanics.

In theory these mechanics work to ensure

traders can always swap one dollars worth of U.S.T for one dollars worth of

Luna which has a floating price and is meant to serve as a kind of shock

absorber for U.S.T.'s price decline

puts its market cap below that of U.S.T. That potentially throws the foundation of

U.S.T.'s entire stabilizing mechanism into jeopardy because it means a

Terra Bank run could lead to some users no longer being able to redeem their $1 worth of

U.S.T. for $1 worth of Luna.

...