Coinbase’s CEO has lost billions of dollars in the crypto crash.
(Photo: Reuters)
Denver It went downhill inexorably. The cryptocurrency Luna cost 70 dollars on Monday, on Wednesday it was 15 and on Thursday evening it was one cent. This means that the once popular crypto project is about to end.
For many small investors, the development is life-threatening. Some of them have made high-risk bets in the crypto world. They have benefited from it for a long time. Now, however, they are faced with a heap of shards. The sell-off is also noticeable among crypto billionaires, which recently also dragged Bitcoin, the largest digital currency, and the market as a whole into the red.
The course of the cryptocurrency Luna in particular collapsed after the associated stablecoin Terra lost its peg to the US dollar. That had put further pressure on the already jittery crypto markets.
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