$1.9T wipeout in crypto risks spilling over to stocks, bonds — stablecoin Tether in focus

  • 📰 Cointelegraph
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 51%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Stablecoins are increasingly under pressure after the Terra's UST meltdown last week.

six months after it soared to a record high. Interestingly, these losses are bigger than those witnessed during the 2007's subprime mortgage market crisis — around $1.3 trillion, which has prompted fears that creaking crypto market risk will spill over across traditional markets, hurting stocks and bonds alike.A massive move lower from $69,000 in November 2021 to around $24,300 in May 2022 in Bitcoin's price has caused a selloff frenzy across the crypto market.

to $0.95 on May 12. But unlike TerraUSD, Tether managed to recover back to near $1, primarily because it claims to back its dollar peg using good old-fashioned reserves, including the real dollars and government bonds.But that is where the trouble begins, according to a warning issued by rating agency Fitch last year.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

“… Pioneers of web3 itheum have created a set of decentralized systems that they hope will form the next generation of the internet. It's a philosophy that challenges the current state of the web, controlled by massive corps..' ⁦: enter itheum⁩ 🥷

More than 7$ trillion has been wiped out from the stock market in 2022. Who is dragging down who ...

fudtelegraph is a plague to the space

Nobody expected this. Although it is difficult to prepare for this.

xMooneyToken That’s not true, the market was down before this 1.4 T

Why is everyone waiting for a rebound instead of choosing a different type of investment and choosing passive income?

How do you lose more than the total market cap?

More than $7 trillion lost in stock exchanges. No one talks about it.!

Your math is wrong.

another clickbait

Luna is about to cause some lunatic movement very soon

Following terra comunity

On 15th May, let go to Arena Season 2!!!!! 🔥Playable on mobile and PC 🔥Only users holding NFT warriors can join this event 🔥Total Reward for the top 500 winners is 224.000 WAL TheWastedLands ArenaSs2 WAL

FUD. USDT is at .998 where is normally is. Coin telegraph working for the bear whales now?

Tether so far has proved to be stable, even though it lost its peg to the dollar for a short time.

No problem only a matter of time

idk but Tether looks pretty fine now

There is no such thing as a stable crypto currency coin,just as there are no stable stocks!

Are you tired of getting ripped on buying crypto? And lookin Gm for a sure plug to be your vendor. Why don’t you choose AltbaseApp. Download the app now and be your own vendor. binance BSCGem

Stop spreading fud 🤮🤦‍♂️💩

yes

There's only one safehaven

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 562. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

How this 'Shark Tank' CEO went from one food truck to a $1 million investment offer from Mark CubanMark Cuban offered $1 million to a Korean barbeque company that started off in a Provo, Utah, food truck—and became a restaurant with locations across the world.
Source: CNBC - 🏆 12. / 72 Read more »