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Crypto billionaire urges clarity on industry regulation

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Cryptocurrency billionaire Brock Pierce weighed in on the need for 'sensible regulation' following recent events, including the 'implosion' of stablecoins.

As of Thursday morning, the bitcoin was trading around the $30,000 level, down from its all-time high of over $68,000 reached in November 2021.Bitcoin and other cryptocurrencies have had some rough weeks in anticipation of and following the It was the second of several anticipated increases this year as the central bank seeks to combat soaring inflation, which is at a high not seen in four decades.

Adding to more fears of volatility in the crypto market was the decoupling of the TerraUSD, a stablecoin whose value was tied to $1 last month. The world’s largest stablecoin by market cap, tether, also briefly edged down from its $1 peg.

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