Think you had a bad week? Try being a crypto day trader. From Sunday, May 8—when the TerraUSD stablecoin began losing its peg to the U.S. dollar and crypto markets began slipping—to Saturday, May 14, Bitcoin derivatives traders lost over $1.2 billion in liquidations, according to data analytics site CoinGlass. That's more than double the amount for the same period of the previous week, which saw $542 million in trades liquidated. The picture across all markets was similarly grim. According to Coinglass data, over $1 billion in all crypto assets was wiped out on May 8 alone—the largest figure in over three months. As ... (full story)