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Crypto crashed this week as 2 stablecoins broke the buck - here's what that means and where the market goes next
10 days ago - By Business Insider
A chart shows a slide in luna coin's price while supply soared in May 2022. CryptoCompare
The cryptocurrency market lost $400 billion during the week as two stablecoins lost their pegs to the US dollar.
The losses threw algorithmic stablecoin TerraUSD and "traditional" stablecoin Tether into the spotlight.
TerraUSD's sister coin luna sank to a $0 value in a spectacular selloff.
The latest crypto sell-off emanating from the unexpected dollar-peg losses by TerraUSD and Tether tested the confidence of investors this week - and could amplify calls for Washington to work faster on regulation...
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