Guides / Core conceptsReturn to guide archive
Status and events are different
A status describes the stablecoin’s present or final state. An event records something that happened at a particular time.
A stablecoin can suffer a serious depeg and later continue operating. Another can stop minting without collapsing. A third can migrate to a successor product. Keeping status and events separate preserves those differences.
| Active | Operating or available according to the latest sources reviewed. |
|---|---|
| Limited | Still operating, but with important restrictions on access, minting, redemption, geography, or availability. |
| Discontinued | Issuance, support, or operation has ended or entered a formal wind-down. |
| Failed | The stablecoin no longer functions as intended after a severe event or collapse. |
| Migrated / rebranded | The product moved to a new name, contract, structure, or successor asset. |
| Launch | The stablecoin or a major new version became publicly available. |
|---|---|
| Depeg | The market or redemption value moved materially away from the target. |
| Recovery | The stablecoin returned close to its target and normal operations resumed. |
| Wind-down | An issuer, exchange, regulator, or protocol began ending support or availability. |
| Collapse | The stablecoin lost its intended function and did not recover. |
| Regulatory action | A public enforcement action, restriction, settlement, or other official intervention. |
| USDC | The March 2023 depeg is recorded as an event; USDC later recovered and remains active. |
|---|---|
| BUSD | The product entered a wind-down and is recorded as discontinued, without a collapse event. |
| UST | The May 2022 collapse is recorded as an event and supports the failed status. |
USDC
Recovered depeg with active status.
BUSD
Issuer wind-down with discontinued status.
UST
Collapse followed by failed status.