Last week’s wobble, for what was supposed to be the most secure section of the twilight zone of cryptocurrencies, is a cause of angst for investors and serious reflection for regulators. The biggest stablecoin, tether, briefly broke its one-to-one link with the US dollar, while our weekend Big Read describes the demise of the cryptocurrency luna as the value of its sister token terraUSD fell to zero, despite being designed to track the dollar. Luna’s failure was “one of the greatest catastrophes crypto has ever seen,” according to Ran Neuner, a prominent crypto trader and outspoken enthusiast for the tokens. Read More...
Last week’s wobble, for what was supposed to be the most secure section of the twilight zone of cryptocurrencies, is a cause of angst for investors and serious reflection for regulators. The biggest stablecoin, tether, briefly broke its one-to-one link with the US dollar, while our weekend Big Read describes the demise of the cryptocurrency luna as the value of its sister token terraUSD fell to zero, despite being designed to track the dollar. Luna’s failure was “one of the greatest catastrophes crypto has ever seen,” according to Ran Neuner, a prominent crypto trader and outspoken enthusiast for the tokens.
