Bitcoin set for record losing streak as 'stablecoin' collapse crushes crypto


SINGAPORE/HONG KONG: Cryptocurrencies nursed large losses on Friday, with bitcoin trading near $30,000 and set for a record losing streak as the collapse of TerraUSD, a so-called stablecoin, rippled through markets.

Crypto assets have also been swept up in broad selling of risky investments on worries about high inflation and rising interest rates. Sentiment is particularly fragile, as tokens supposed to be pegged to the dollar have faltered.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Bitcoin , Ether , TerraUSD , stablecoin

   

Next In Business News

CNH picks Iveco Group’s Marx as new CEO
Blackstone makes new offer to buy Hipgnosis
Factors influencing Vietnam’s FMCG trade
Conference on how AI will elevate marketing
US clean tech withers as imports are blocked
Cooling equipment industry heating up
Tesla spends weekend cutting prices of cars
VN-Index technical recovery hits speed bump
Federal Reserve forecast mechanism looks outdated
Pressure mounts at IMF against blueprint for EM debt revamp

Others Also Read