crypto

Crypto hedge fund Three Arrows fails to meet lender margin calls

Crypto hedge fund Three Arrows fails to meet lender margin calls

Three Arrows Capital failed to meet demands from lenders to stump up extra funds after its digital currency bets turned sour, tipping the prominent crypto hedge fund into a crisis that comes as a credit crunch grips the industry. The group’s failure to meet margin calls this past weekend makes the group the latest victim …

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Crypto Meltdown Exposes Hollowness of its Libertarian Promise

Crypto Meltdown Exposes Hollowness of its Libertarian Promise

To its advocates, cryptocurrency is, at its heart, a libertarian project to free mankind from the shackles of government—most of all its power to debase a “fiat” currency by printing more of it. Do Kwon, the South Korean creator of the stablecoin TerraUSD, regularly equated fiat currency to “state violence.” So when inflation took off, …

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How a Trash-Talking Crypto Bro Caused a $40 Billion Crash

How a Trash-Talking Crypto Bro Caused a $40 Billion Crash

Do Kwon, a trash-talking entrepreneur from South Korea, called the cryptocurrency he created in 2018 “my greatest invention.” In countless tweets and interviews, he trumpeted the world-changing potential of the currency, Luna, rallying a band of investors and supporters he proudly referred to as “Lunatics.” Mr. Kwon’s company, Terraform Labs, raised more than $200 million …

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What the Hell Just Happened With Crypto?

What the Hell Just Happened With Crypto?

The cryptocurrency world took a beating last week. The price of bitcoin fell to lows not seen since 2020; Coinbase, the largest cryptocurrency exchange, saw its stock plummet; and a prominent “stablecoin” called Terra, along with its associated cryptocurrency, Luna, collapsed. In response, crypto naysayers took to Twitter to dance on bitcoin’s grave, and subreddits …

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Crypto Rout: Another Stablecoin Falls After UST and Luna

Crypto Rout: Another Stablecoin Falls After UST and Luna

Crypto investors no longer know where to turn.  Crypto pricing is now correlated with the stock market, which means that, as the saying goes, when the stock market coughs, digital-currency prices catch pneumonia. This has persisted this year due to fears of recession. That concern in turn has been fueled by inflation, which is at …

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"Stablecoin" Hasn't Killed Crypto, But It Was A Narrow Escape

“Stablecoin” Hasn’t Killed Crypto, But It Was A Narrow Escape

Stablecoins are a vital part of crypto. Speculation that the collapse of one of the biggest experiments in decentralized finance could bring about the death of crypto appears to have been overblown. If Terra’s implosion had happened after a few more months of growth, the resultant market impact might have created a DeFi version of …

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This Week on Crypto Twitter: Do Kwon Takes Heat for UST Failure - Decrypt

This Week on Crypto Twitter: Do Kwon Takes Heat for UST Failure – Decrypt

Illustration by Mitchell Preffer for Decrypt It was the market’s sixth consecutive weekly decline, but on Crypto Twitter, the industry’s eyes were pinned on UST’s historic depegging.  Terra’s dollar-pegged algorithmic stablecoin collapsed, bottoming out at $.13 on Friday, causing a domino effect where the price of LUNA nosedived to virtually zero as people rushed to …

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Plunge in crypto values boosts calls for regulations

Plunge in crypto values boosts calls for regulations

A plunge in cryptocurrency values and the collapse of popular tokens are stoking panic among some investors and boosting pressure on Washington to act.  Rising interest rates and recession risks have caused sharp sell-offs across financial markets, including the stock market. Many crypto investors have seen their holdings evaporate — along with major players in …

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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.

Crypto crashed this week as 2 stablecoins broke the buck. Here’s what that means, and where the market goes next.

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.   Loading Something is loading. The latest crypto sell-off emanating from …

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Bitcoin tumbles, a stablecoin plunges in wild week in crypto

Bitcoin tumbles, a stablecoin plunges in wild week in crypto

NEW YORK (AP) — It’s been a wild week in crypto, even by crypto standards. Bitcoin tumbled, stablecoins were anything but stable and one of the crypto industry’s highest-profile companies lost a third of its market value. Here’s a look at some major developments in cryptocurrencies this week: BITCOIN The price of bitcoin dropped to …

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