Share this article

First Mover Asia: Bitcoin at 16-Month Low as UST Collapse Shows Risks of 'Algo' Stablecoins

A number of algorithm-based stablecoins have already failed; bitcoin and other cryptos see deep red.

Updated May 11, 2023, 4:42 p.m. Published May 11, 2022, 11:38 p.m.
Bitcoin and other major cryptos plummeted. (Shutterstock)
Bitcoin and other major cryptos plummeted. (Shutterstock)