See the latest Australian dollar analysis here:
Did get yourself some stablecoin? I hope not:
— christopher joye (@cjoye) May 10, 2022
As a $15bn stablecoin, Terra is supposed to sustain its value to the USD one-to-one.
Unbelievably, at least some of its capital is…wait for it…secured in Bitcoin!
As BTC comes apart so too does the pyramid scheme. This might be the ugliest chart I have ever seen:
With zero regulatory scrutiny and inflation still hot, there is no way that the Fed can bail out the crypto complex.
But it is going to be fun to watch the segment beg for it.