An obscure cryptocurrency is causing investors to panic
After Bitcoin, stablecoins and crypto exchanges are also caught in the downward spiral. The buyers trusted them blindly.
Published: 05/13/2022, 09:24
Investors were too gullible: stablecoins like Tether promised to be exchanged one for one for dollars at any time.
Photo: Justin Tallis (AFP)
The collapse of the stablecoin TerraUSD has been causing panic in the crypto world since the beginning of the week. Stablecoins are digital currencies pegged to the dollar, gold, or other currencies. They promise their customers that the stablecoin can be exchanged one-for-one for dollars at any time.
