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05/20/2022
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By Kevin Hughes
Domino effect: TerraUSD collapse sends Bitcoin, Ethereum crashing
A recent market meltdown in the broader crypto market has cryptocurrencies like Bitcoin and Ethereum suffering huge losses. The massive meltdown was caused by the collapse of TerraUSD, one of the world’s biggest stablecoins. TerraUSD traded for as low as 23 cents amid panic selling and triggered a meltdown that sent cryptocurrency values plummeting. (Related: “Stablecoins” Terra and Luna crater, […]
05/14/2022
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By Ethan Huff
Crypto “HODLers” getting SUICIDAL as entire life savings now VANISHING in accelerating crypto carnage
People who lost everything in Terra (UST) and Luna are now contemplating suicide after having their lives ruined by more cryptocurrency scams. On Reddit, one person wrote that his friend and ex-manager of 15 years tried to commit suicide after moving basically all of his life savings to crypto in 2021. “… Luna was a […]
05/13/2022
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By Arsenio Toledo
Bitcoin price briefly falls below $26,000 as crypto sell-off erases more than $200 billion from the market
The value of bitcoin briefly fell below $26,000 for the first time in 16 months before rallying. The dip in value comes amid a broader sell-off in cryptocurrencies that saw more than $200 billion worth of crypto disappearing from the entire market in a single day. On Thursday, May 12, bitcoin’s value fell as low as […]
05/13/2022
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By Mike Adams
CRYPTO CARNAGE and market mayhem foreshadowing the “mother of all collapses” to come
The absurd but often-hyped claim that “crypto is digital gold” has collapsed. The LUNA token, part of TerraUSD “stablecoin” ecosystem, turned out to be entirely unstable, collapsing to zero after a massive hyperinflationary LUNA token creation event (combined with a redemption / selloff factor) that plunged into a death spiral this week. All LUNA investors […]
05/13/2022
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By Ethan Huff
CoinDesk outs Terra stablecoin founder as the same person behind failed “Basis Cash” experiment that crashed and burned
Terra creator Do Kwon is apparently a longtime scam artist who also put together the failed algorithmic stablecoin “Basis Cash” (BAC), which was launched through Ethereum in 2020. Just like the now-failed Terra coin, BAC “sought to maintain a $1 peg through code, not collateral,” according to CoinDesk. BAC ultimately failed, never reaching dollar parity […]
05/13/2022
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By Ethan Huff
As crypto bubble bursts, Wall Street appears to be following suit
Just about every cryptocurrency and digital “asset” is taking a nosedive following the collapse of Terra and Luna, a “stablecoin” duo that were supposed to be pegged to the U.S. dollar. Ethereum lost 20 percent of its value in just 24 hours while Bitcoin, the original crypto, plunged by 11.24 percent. Luna, meanwhile, lost a whopping […]
05/12/2022
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By Arsenio Toledo
If Coinbase goes bankrupt, all of its users’ funds could disappear
Coinbase, an online cryptocurrency holding and exchange company, warned that if it goes bankrupt, all of its users could lose all of their assets. Coinbase is the largest cryptocurrency exchange in the United States. For its latest quarterly report, the company said it experienced a loss of $430 million and a 19 percent drop in monthly […]
05/12/2022
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By Ethan Huff
“Stablecoins” Terra and Luna crater, exposing some cryptos as highly unstable Ponzi scams
UST, a so-called “stablecoin” that also goes by the name of TerraUSD, along with its “sister” token Luna, have both pretty much collapsed, demonstrating that the idea of a cryptocurrency coin being stable is pure fantasy – not that the Federal Reserve’s fake fiat “Monopoly” money is any better or more stable, just to be […]
03/08/2022
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By Mike Adams
The CRYPTO tipping point has arrived as corporate banks SHATTER public trust… every person must become proficient in crypto or risk losing everything
For the last several years, I have been a vocal supporter of the technology and decentralization behind crypto, but simultaneously a vocal critic of the hype and speculation that characterizes so much of the crypto ecosystem. Until recently, there didn’t seem to be a compelling reason to exit the traditional banking system and embrace crypto […]
03/04/2022
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By Ramon Tomey
Off the radar: Indicted BitConnect founder Satish Kumbhani disappears
The founder of a cryptocurrency company linked to a billion-dollar Ponzi scheme is nowhere to be found. Satish Kumbhani reportedly disappeared following his indictment over an alleged $2.4 billion Ponzi scheme. The Securities and Exchange Commission (SEC) acknowledged the BitConnect founder’s disappearance in a Feb. 28 filing. Senior trial counsel Richard G. Primoff wrote in the filing […]
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