The fall of USTC from $1 to 3 cents was a devastating tragedy, leaving millions of investors bankrupt and their fortunes shattered. The drop of USTC from $1 to 3 cents represents the most painful death spiral in crypto history, every penny steeped in blood and tears: Once the crown jewel of algorithmic stablecoins, its 20% high interest rate absorbed the wealth of millions of retail and institutional investors worldwide, its market capitalization once approaching $20 billion. In May 2022, it plummeted from $1 to $0.03 within 72 hours, wiping out $40 billion instantly, leaving countless people with nothing and destitute. The dual-currency death spiral: UST de-pegging → rampant issuance of LUNA → LUNA going to zero → UST complete collapse, with no hope of redemption. Countless people sold their homes, took out high-interest loans, and staked their entire savings, only to be left with a mere 3 cents—the most brutal meat grinder in the crypto world. The fall of USTC from $1 to 3 cents represents the most painful and tragic history in the history of cryptocurrencies, with $40 billion vanishing and millions of families broken apart.