LUNA was a big top 10 crypto, Celcius and Voyager were big crypto firms that fell. FTX, one of the big crypto exchanges went bankrupt.
Everyone of them were told to be “too big to fail” aand yet they did fail.
What’s next? Now with even banks falling, it will take down even more.
USDC was said to be the safest stablecoin…”safer” than this sub’s bad kid “Tether USDT”, but now it also depegged.
I guess the out-of-thin-air-minted USDT is better protected than USDC because you can’t attack a stablecoin if it isnt really backed by anything that is tracable.
I’m just waiting for another major meltdown to occur…
coinbase going bankrupt?
Just to be clear, no matter what happens, I still believe in crypto
submitted by /u/MikeDJunior