"Cryptocurrencies nursed large losses on Friday, with Bitcoin back above $30,000 and but still set for a record losing streak after the collapse of TerraUSD, a so-called stablecoin, rippled through cryptocurrency 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."
On a economic only front. Countries that had a fixed or pegged currency found out the hard way that shorting whole countries is possible. The TerraUSD and similar rout has been interesting to watch. I love Block Chain yet think the Cryptocurrencies craze has been called loosely a currency?
Appreciate differing views on what makes a currencies varies from country to country and place to place even.
