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Bitcoin, the world's largest cryptocurrency, has fallen over 50% since setting an all-time high of nearly $69,000 in November.Dan Kitwood | Getty Images

The two main tokens from embattled crypto project Terra are now in freefall.

UST, a so-called stablecoin that's meant to maintain a $1 peg, plunged more than 60% Wednesday from 24 hours earlier.

It was trading at just 35 cents at 4 a.m. ET, according to CoinGecko data.

Sister token luna dived more than 80% to $5.

Other cryptocurrencies tumbled alongside them, with bitcoin sinking 5% to $30,321 and ether falling 4% to $2,286.

Stablecoins are akin to bank accounts for the crypto economy, offering a sound store of value to avoid the kind of volatility cryptocurrencies like bitcoin have become notorious for — in theory, at least.

UST, the world's third-biggest stablecoin, uses a complex system of minting and burning tokens to adjust supply and stabilize prices. Its price has crumbled under the pressure of a sell-off in cryptocurrencies recently, resulting in further panic in the market.

Do Kwon, the coin's creator, has amassed billions of dollars' worth of bitcoin through his Luna Foundation Guard fund to support UST in times of crisis. The fear now is that Luna Foundation Guard dumps those bitcoins onto the market, resulting in an even bigger sell-off.

Bitcoin briefly slumped below $30,000 Tuesday, its lowest level since July 2021. The world's biggest digital coin is now hovering slightly above that level. It's fallen about 56% since setting an all-time high of nearly $69,000 in November.

David Moreno Darocas, a research analyst at CryptoCompare, said the situation highlights the "fragility" of algorithmic stablecoins like UST.

"UST has grown to be both an integral and controversial piece of the crypto ecosystem," he said.

The phenomenon is still relatively new. But UST has grown to become a major player in the crypto economy, with a circulating supply of nearly 17 billion tokens.

Investors are now closely watching for how Luna Foundation Guard responds to prop up its ailing stablecoin. Kwon said Tuesday he was "close to announcing a recovery plan" for UST. "Hang tight," he tweeted.


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GMA’s TJ Holmes & Amy Robach ‘broke morality clause’ in their million-dollar contracts & ‘could face firing for affair’

GOOD Morning American hosts TJ Holmes and Amy Robach have broken their morality clause in their million-dollar contracts and could face firing for their alleged affair, according to a source. 

The U.S. Sun exclusively obtained and reviewed the code of conduct that TV stars Amy, 49 and TJ, 45, were required to read and sign upon being hired by ABC.

5Amy Robach may have been in violation of ABC's talent code of conduct when she had an affair with her co-starCredit: Getty 5Married TJ Holmes' scandalous alleged affair with his co-worker was revealed WednesdayCredit: ABC

According to sources, the pair's alleged affair may have been in violation of the contract. 

The contract commands talent to "act at all times with due regard to public morals and conventions." 

The clause continued that talent shall not engage in behavior "which tends to bring you or us into public disrepute, contempt, scandal or ridicule....or which might reflect unfavorably upon us, or injure the success of the programs."

The text concluded: "We may terminate this Agreement upon notice to within thirty (30) days after we acquire knowledge thereof."


A source close to production of the family-oriented ABC news program previously told The U.S. Sun that execs and top talent are furious over Amy and TJ's alleged romance. 

The co-stars' reported relationship rocked the GMA staff and threw production into absolute chaos. 

The source said: "There is no way they are going to be able to stay at GMA. 

"They may not be outright fired, but they'll be relegated to lesser roles, which will make it undesirable for them to continue."  

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The U.S. Sun also reported that lead GMA anchors George Stephanopoulos and Robin Roberts were furious with the rampant rumors around the newsroom and the world.   

"George and Robin do not like this. This is very messy," a source explained, adding that the pair once prided themselves on not having a sex scandal like Today suffered with Matt Lauer in 2017.  


On Wednesday, hours after the news of their relationship was first reported by the Daily Mail, TJ awkwardly anchored solo for the full 60-minute show. 

But despite a public outcry over their alleged affair, the cozy co-stars reunited and appeared together for GMA3 on Thursday afternoon, and did not acknowledge the elephant in the room. 

The hosts quickly went right into discussing various news topics but skipped talking about their own headline-making news.

GMA fans took to social media to share their surprise upon seeing both Amy and TJ on the show amid the scandal.

One shocked viewer tweeted: “TJ Holmes and Amy Robach are on the set of GMA3!”

Another wrote: “Raise your hand if you were as surprised as me to see both Amy & TJ on #GMA3 today?”

They then added: “Amy did look uncomfortable!!”

Aside from their surprise over seeing the pair sitting next to one another at the anchor desk, fans were also shocked that none of the hosts cleared the air about the rumored romance.

“Not them acting like s**t didn’t go down within the last 24 hours,” one fan wrote.


In The Daily Mail's damning photos, Amy and TJ were spotted enjoying what looked to be a series of PDA-filled dates and even a weekend getaway together this month.   

In one picture, the pair looked intimate while having a drink at a bar in New York City on November 10.   

They were also caught apparently spending time together at each other's apartments in Manhattan.   

The pair - who began anchoring GMA3 in together in 2020 - reportedly headed to upstate New York on November 11 for a weekend getaway at a cottage two weeks before Thanksgiving.   

While the presenters are legally married, a source told the outlet that they are in process of separating from their partners.   

TJ and Amy both abruptly deleted their social media pages on Tuesday after the shocking rumors emerged.  

An insider told Daily Mail: "Everyone knows that Amy and T.J. have been close friends for a long time now, running together and even socializing as a foursome with each other's spouses."   

In March, Amy shared a photo of TJ with his arm around her husband Andrew Shue's shoulder during a day of training for the New York half marathon.   

The insider claimed Amy and TJ's alleged affair started in June, if not sooner, while both were very married to other people. 

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They claimed it was "when they were in London together filming the Queen's Diamond Jubilee for ABC and staff were all over each other and staff were buzzing about the intimacy between them."  

The U.S. Sun has contacted representatives for GMA for comment and has not heard back.   

5Sources told The U.S. Sun Robin Roberts & George Stephanopoulos were furious to learn of the alleged affairCredit: Getty 5The co-stars' relationship was kept from the public, but those who worked closely with them had an ideaCredit: GMA 5The cozy co-stars trained and ran together in the New York City Marathon last monthCredit: Getty Topics
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Kourtney reveals her jean size after fans praise her for showing off curves

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