Crypto

Cave_Johnson said:
Yikes. Sounds like this thief saved us all.

This is still not as dumb as Ashton Kutcher's show about cats who smoke weed that cost people like $700 in ETH to watch.
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What channel is that on?


My ol’ buddy George used to love to get high. I’m assuming ETH is like Vcash.
 
TerraUSD Crash Led to Vanished Savings, Shattered Dreams :

TerraUSD was touted as a blue-chip cryptocurrency. Now its investors are reeling from painful losses and asking if it was all a get-rich-quick scheme.

A surgeon in Massachusetts can’t stop thinking about how he lost his family’s nest egg. A young Ukrainian considered suicide after losing 90% of his savings. Other investors have given up dreams of starting new businesses or quitting their day jobs.

All of them were swept up in the mania for TerraUSD, whose total value swelled to $18 billion before collapsing earlier this month. The coin’s sudden downfall is a reminder that crypto—which enjoyed a huge bull market last year—is often little more than a casino, with weak regulation and few means of recourse for the losers.

The crash caught many investors off guard because TerraUSD was a stablecoin, designed to maintain its value of $1 per coin. Unlike bitcoin, which has crashed repeatedly in its short history, TerraUSD was pitched as a harbor from volatility. It slipped below $1 earlier this month and was trading around 8 cents on Thursday.
 
Dole ver 2.0 said:
TerraUSD Crash Led to Vanished Savings, Shattered Dreams :

TerraUSD was touted as a blue-chip cryptocurrency. Now its investors are reeling from painful losses and asking if it was all a get-rich-quick scheme.

A surgeon in Massachusetts can’t stop thinking about how he lost his family’s nest egg. A young Ukrainian considered suicide after losing 90% of his savings. Other investors have given up dreams of starting new businesses or quitting their day jobs.

All of them were swept up in the mania for TerraUSD, whose total value swelled to $18 billion before collapsing earlier this month. The coin’s sudden downfall is a reminder that crypto—which enjoyed a huge bull market last year—is often little more than a casino, with weak regulation and few means of recourse for the losers.

The crash caught many investors off guard because TerraUSD was a stablecoin, designed to maintain its value of $1 per coin. Unlike bitcoin, which has crashed repeatedly in its short history, TerraUSD was pitched as a harbor from volatility. It slipped below $1 earlier this month and was trading around 8 cents on Thursday.
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Do Kwon needs to be in jail. Instead he just launched 2.0

I hear the Koreans are after him though.
 
Continued from WSJ:

Keith Baldwin, a 44-year-old surgeon who lives outside New Bedford, Mass., saved $177,000 during the past decade. Last year he took his savings and bought USD Coin, putting it in a crypto account that paid a 9% annual yield.

In April, he moved it into a pseudo-savings account powered by TerraUSD that offered 15%. More than 90% of his savings vanished in a few days when TerraUSD lost its peg to the dollar. Dr. Baldwin said he didn’t know that Stablegains, the startup that managed the account, was converting his USD Coin holdings into TerraUSD. (USD Coin has kept its $1 peg.)
 
HammerDown said:
Do Kwon needs to be in jail. Instead he just launched 2.0

I hear the Koreans are after him though.
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I read that yesterday or day before. Lots of his "followers/investors" are behind the move, thinking they can recoup some of their money.

This is where the fool me once, fool me twice metaphor kicks in.

Sad.
 
Dole ver 2.0 said:
TerraUSD Crash Led to Vanished Savings, Shattered Dreams :

TerraUSD was touted as a blue-chip cryptocurrency. Now its investors are reeling from painful losses and asking if it was all a get-rich-quick scheme.

A surgeon in Massachusetts can’t stop thinking about how he lost his family’s nest egg. A young Ukrainian considered suicide after losing 90% of his savings. Other investors have given up dreams of starting new businesses or quitting their day jobs.

All of them were swept up in the mania for TerraUSD, whose total value swelled to $18 billion before collapsing earlier this month. The coin’s sudden downfall is a reminder that crypto—which enjoyed a huge bull market last year—is often little more than a casino, with weak regulation and few means of recourse for the losers.

The crash caught many investors off guard because TerraUSD was a stablecoin, designed to maintain its value of $1 per coin. Unlike bitcoin, which has crashed repeatedly in its short history, TerraUSD was pitched as a harbor from volatility. It slipped below $1 earlier this month and was trading around 8 cents on Thursday.
Click to expand...

wonder what crashed for this guy

nypost.com

French financier jumps to death from NYC balcony during apartment showing: sources

A man jumped to his death from a luxury Manhattan high-rise Thursday while taking a tour of a unit with a real estate agent, police sources said.
nypost.com nypost.com
 
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