This is truly wild to watch happening in real time. At the time he published his post, UST was around $0.90 and the recovery path to near term stability at $1

This is truly wild to watch happening in real time. At the time he published his post, UST was around $0.90 and the recovery path to near term stability at $1 seemed plausible. At the time of the HN post, it was at $0.30 and the death spiral to $0 seemed plausible. As I write this comment, it's sitting at just about $0.50, which is obviously not a stable position for a stablecoin. It seems self-evident that a stablecoin ever being closer to $0 than $1 should destroy confidence in it, but apparently not immediately!