Bitcoin Miner Argo Blockchain Emerged Unscathed From Its UST Stake
Argo was able to sell its UST positions at 93 cents per token before the price fully collapsed, according to Wall. Most recently, UST was still trading around 10 cents according to CoinDesk’s price index. “Looking back [selling at that level] was a very good move given last time I checked it was trading around 12 cents,” Wall said during the call. “Overall, on a net basis, in the Terra ecosystem, we nearly broke even on our positions, after taking into consideration the yield that we generated through our holdings,” he added.