Cryptocurrency meltdown is wake-up call for many, including Congress
— Meltdown, Cryptocurrency, Washington, Terra, Value, Collapse, Congress, Industry, Assets, Stablecoin, Crypto, Including, Stablecoins, Wakeup — 1 min read
Stablecoins are supposed to be less vulnerable to big swings, but Terra suffered a spectacular collapse in a matter of days. Terra became just the latest “sh-coin” — the term used by the community to describe coins that faded into obscurity. Washington may also be waking up to the fact that what used to be niche part of the internet and finance has gone mainstream and can no longer be ignored. The total value of crypto assets hit a peak of $2.8 trillion last November; it’s now below $1.3 trillion, according to CoinGecko. Source