TerraUSD Briefly Loses $1 Peg, Instagram To Support Ethereum, Solana And Polygon NFTs, Bentley University Accepts Crypto For Tuitions
TerraUSD Briefly Loses $1 Peg
Terra’s native stablecoin, TerraUSD (UST), the third-largest stablecoin, briefly lost its peg, trading at $0.98 on Sunday. This occurred because of the selling-off of $300 million worth of UST tokens on Curve, a decentralized finance platform, and Binance, a cryptocurrency exchange. Terra’s governance and staking token, LUNA, fell 14% in twenty-four hours.
Stablecoins such as USDT and USDC are pegged to the U.S. Dollar by holding actual U.S. dollar reserves. TerraUSD, on the other hand, maintains its peg through an algorithmic incentive mechanism using its sister token LUNA. LUNAtics, also known as the Terra Community, labeled the de-pegging event as a coordinated attack.
Do Kwon, founder of Terra Luna, responded in a series of tweets, saying that he loved chaos. He made light of the event in a Twitter thread, “Those of you waiting for the earth to become unstable - I'm afraid you will be waiting until the age of men expires,” he tweeted.
Instagram to support Ethereum, Solana, and Polygon NFTs
According to CoinDesk, Instagram, Meta’s photo and video sharing social network, will pilot non-fungible token (NFT) integrations for Ethereum, Polygon, Solana, and Flow, as soon as Monday. The pilot will feature a small group of top-tier NFT projects from the United States.
Instagram intends to support popular web3 wallets such as MetaMask. Upon connecting their wallets, users will be able to authenticate ownership of the NFTs, use them as profile pictures, and tag their creators. Instagram confirmed that users will not be charged a fee for displaying their NFTs.
Bentley University Accepts Crypto for Tuitions
Bentley University in Massachusetts, United States, is partnering with the cryptocurrency exchange Coinbase to accept Bitcoin, Ethereum, and USD Coin, for students to pay their tuition. It will be one of the first universities to offer the option to pay for tuition using cryptocurrency.
The university is also planning to accept gifts and donations in Bitcoin, Ethereum, and USD Coin. Bentley University is a private university focused on business. It was founded in 1917 as a school of accounting and finance.
The university will also launch a new crypto finance course focused on blockchain application and decentralized finance. “Students have a real interest in knowing more about blockchain, decentralized finance, and cryptocurrency investments,” says Alex Kim, a student at Bentley and founder of the Bentley Blockchain Association.
Written by Lindi Miti © Crypto University 2022
Share Transmission
Broadcast this signal to your network
More News
SEC and CFTC Landmark Interpretation: “Most Crypto Assets Are Not Securities” and What the New Token Taxonomy Changes for Users
In 2026, SEC and CFTC clarified most crypto assets aren't securities, introduced token taxonomy, and provided guidance on staking, airdrops, mining, and wrapping for better regulatory clarity.
The March 2026 FOMC Meeting: How the Fed’s Rate Decision, Dot Plot, and Powell’s Tone Can Swing Crypto Markets
A practical explainer of the March 2026 FOMC decision, dot plot, and Powell’s tone, and why liquidity and risk appetite move Bitcoin and crypto.
Bitcoin’s Surge Past $74,000: How Spot ETF Inflows and Institutional Buying Are Fueling the 2026 Rally
Bitcoin moved above $74,000 amid spot ETF inflows and institutional demand. Learn how spot ETFs work, what flows mean, and key on-chain context.