Biff_Poindexter
Diamond Member
Crypto crash: Stablecoin collapse sends tokens tumbling
The sudden demise of TerraUSD sends other crypto coins into a downward spiral.
www.bbc.com
"The Terra Luna token fell from a high of $118 (£96), last month, to $0.09 on Thursday. The collapse had a knock-on effect on a linked token, TerraUSD, which is normally stable. Spooked investors are now pulling out of major crypto-currencies, sending markets plummeting. The term "cryptocrash" has been trending on Twitter and Google Search. And the combined market value of all crypto-currencies is now reportedly $1.12trillion, about a third of its November value, with more than 35% of that loss coming this week. On Friday Terraform Labs, the company behind TerraUSD and Terra Luna took the unprecedented and controversial step of halting trading on it's blockchain. Meanwhile, the company's Discord server, a platform where investors congregate to talk through issues, posted a notice saying it had been "locked down so new people can't come in and spread fear, uncertainty, doubt and misinformation".
Lots of "dude-bros" are having their life savings wiped out before their eyes -- because they believed crypto was the new wave of the future..and maybe it still can be, but at this point -- it is far too volatile to be trusted in the way the Elon worshiping dude-bros trust it....and speaking of Elon.....the whole market volatility thing plays into his recent issues with having to beg investors to give him money to buy Twitter -- because the money he thought he would have (stock value) isn't there because Telsa stock value has dropped 40%...
Elon Musk is looking to finance Twitter acquisition without loans backed by Tesla shares as price falls
Elon Musk is reportedly looking to secure more equity for the acquisition of Twitter in order to proceed without billions...
electrek.co
"Musk is apparently looking to raise enough capital through other investors to avoid Tesla-backed loans completely. The moves come after Tesla’s stock crashed to levels not seen since last summer. Tesla’s stock is going down amidst a broader market correction, and it is bad timing for Musk’s acquisition of Twitter."
All of this directly leads to the actions of Biden and his admin.....including the baby formula shortage....what crisis will they create next?? Will he engineer a shortage in bar-b-que sauce so Americans across the country won't be able to adequately enjoy July 4th??
