An electronic board at a cryptocurrency exchange shows the market diving during a trading session in Seoul on May 13. The collapse of Luna and UST, from Seoul-based Terraform Labs, has wreaked havoc on the cryptocurrency market. Photo: EPA-EFE
Luna collapse used by Chinese state media to justify cryptocurrency ban following ‘bloodbath’ for investors
- Economic Daily said Luna’s plummeting value to less than 1 US cent ‘proves the timely and effective action of our country’s regulators’
- Luna has been a hot topic on Chinese social media after its stablecoin sibling TerraUSD lost its peg to the US dollar last week and entered a death spiral
An electronic board at a cryptocurrency exchange shows the market diving during a trading session in Seoul on May 13. The collapse of Luna and UST, from Seoul-based Terraform Labs, has wreaked havoc on the cryptocurrency market. Photo: EPA-EFE
