Joshua Henslee released a video discussing his take on the digital currency market chaos last week, particularly how the 'leaders' in the space are handling the issue.
Coinbase reported a loss of US$430 million in Q1 2022 as revenue slipped 27% compared to a year ago, and the stock ($COIN) has now lost 70% of its value since March.
Bitcoin developer Joshua Henslee released a new video talking about one of the most dramatic events in the digital currency industry in recent times: the collapse of the UST stablecoin.
The over-concentration of the stablecoin markets was also highlighted, with the trio of Tether (USDT), USD Coin (USDC), and Binance USD (BUSD) controlling over 80% of the market share.
The prices of inter-linked LUNA and UST tokens on the popular Terra network tanked this week, causing leading exchanges, including Binance, to suspend transactions in those assets.