Vitalik Buterin Discusses the Future of Algorithmic Stablecoins

Vitalik Buterin, the creator of Ethereum and an avid proponent of cryptocurrencies, recently gave his opinion on algorithmic stablecoins and their potential for the future. He said that algorithmic stablecoins need to be scrutinized based on how well they perform in difficult market situations and whether they can securely wind down when the buzz around them subsides. Although the recent collapse of UST and LUNA wiped billions off the market and pushed UST from its $1 (approximately Rs. 77) peg, Buterin maintained in an article that automated stablecoins might make sense while criticizing extravagant gains provided by those “doomed to collapse eventually.”