Cryptocurrency luna crashes to $0 as UST falls further from dollar peg; bitcoin rebounds 8%

Cryptocurrency luna crashes to $0 as UST falls further from dollar peg; bitcoin rebounds 8%

From cnbc.com

video Bitcoin staged a rebound on Friday, jumping above $30,000 despite the ongoing woes of stablecoin TerraUSD which has caused panic in the crypto market. The world’s largest cryptocurrency bitcoin was trading at around $30,262.85 at 4 a.m. ET on Friday, according to CoinGecko data, up 8% in the last 24 hours after it dropped to levels not seen since late 2020 earlier this week. However, the digital currency is still down 16% in the last seven days. The recent crypto meltdown, which has seen billions of dollars wiped off the market, has in large part been sparked by the crash of a controversial stablecoin known ... (full story)

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The circulating supply of Luna (LUNA) surged to more than 6.5 trillion by the time the Terra blockchain was halted for a second time in an attempt to salvage the collapsing ...