The collapse of Terra, the failure of Tether: what is happening in the crypto market and how the current crisis differs from previous ones
The new fall of bitcoin - and with it other cryptocurrencies - may be different from the previous ones, when the recovery came quickly enough. This time, with the collapse of the stablecoin TerraUSD (UST), one of the foundations of the cryptocurrency ecosystem is in question - and one of the few remaining channels for withdrawing funds from Russia to abroad. What's happening On Thursday, May 12th, bitcoin peaked 10% to $25,500 levels.