12 May, 2022
Panic stricken crypto community continues to see red all over as stablecoins crash.
Terra UST driven crypto crash has led other stablecoins to lose their value.
USDT is trading at $0.9456, down 5% in the last 24 hours.
USDT has not seen these levels in the last 3 years.
Earlier, Coinbase cautioned its customers in a regulatory filing that if they were to file for bankruptcy, the court might treat their assets as exchange’s.
The Coinbase bankruptcy scare has caused panic among crypto holders that have their funds with the largest US-based crypto exchange.
Currently, bears are absolutely dominating the market as the crypto community continues to wait for recovery signs.