Crypto Fund Arca Doubled Down on UST Amid Stablecoin’s Collapse

Crypto Fund Arca Doubled Down on UST Amid Stablecoin’s Collapse


“After this analysis, we felt, and continue to feel, that UST will ultimately maintain its peg and a number of attractive opportunities had become available,” Arca CEO Rayne Steinberg wrote to investors on Tuesday. “For example, we were able to purchase UST at a significant discount to par in the DYF (Digital Yield Fund) and then deposit with FTX who were paying 100% APY (annual percentage yield) given the buyer/seller imbalance during peak fear.”

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