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Angry questions are being asked of financial content creators, or ‘finfluencers’, who promoted Vauld, the Singapore-based crypto firm that suspended all its transactions on 4 July, leaving investors stranded
Tether investors pulled $10 billion worth of the stablecoin in exchange for US dollars after the token broke its 1-to-1 peg in a crypto bloodbath.
It was a "strong signal that investors saw the recent UST stablecoin de-peg and its associated broad sell-off as a buying opportunity," CoinShares said.
Bitcoin rose to above $30,000 Friday as cryptos recovered from their rout, but the token is set to lock in its seventh weekly loss.
The crash in supposed stablecoin TerraUSD has caused dismay in cryptocurrency markets during a brutal period for digital assets.