"What happened is very sad," said Jaclyn Ding, a crypto investor and MIT graduate student."People are still calming down from their emotions."
The next chapter for crypto will almost certainly include more regulation, said Mark Williams, who teaches finance at Boston University's Questrom School of Business. He points out that some investors are wary of the volatile swings and regulation-free atmosphere associated with crypto. He thinks if lawmakers and regulators, such as U.S. Treasury Secretary Janet Yellen, are now paying attention, that is a good sign.
That would be a welcome development for some, particularly if it helps keep momentum growing in the industry. A particular type of cryptocurrency — called a stablecoin — issued by the company Terra, was at the center of the crash. As the name implies, stablecoin is supposed to resist wild fluctuations in value because it is pegged to a stable asset, such as the U.S. dollar.Boston-based Circle is the second largest issuer of stablecoin in the world. The value of its currency, USDC, has remained