Digital Assets Report 72
- The stablecoin TerraUSD (UST) depeg has led to the most important deathspiral in only a week with over $40 billion of value between UST and LUNA destroyed.
- UST crash has impacted the whole crypto market with $1 Trillion in market cap meltdown.
- Luna Foundation Guard tried to maintain the 1:1 peg and questions have been raised about bitcoin reserves management.
- Web3 investments and consolidations remains very active despite short term turmoils.
- Yellen quote UST breakdown while calling for stablecoin rules.
- Coinbase warns users could lose their crypto holdings if the company goes bankrupt.
- More banks globally are offering digital assets trading.