'All Trust Could Vanish': Inside the Cryptocurrency Turmoil

While cryptoassets have generally lost between half and quarter of their value this week, most

have remained in the green, protected by their peg to the US dollar.

However, the collapse of stablecoin Terra/Luna (UST) was so dramatic that it cast doubt on the entire asset class.

Concerns are mounting over the largest stablecoin Tether, which has around $80 billion in circulation.

“

,” analyzes Stéphane Reverre, founder of Sun Zu Lab, a financial analysis firm on cryptoassets and their liquidity, recently financed by Elaia Partners.

In a worst-case scenario, such a shock could have an impact on cryptoassets, whose total value is generally estimated at some $1.5 trillion, comparable to that of the collapse of Lehman Brothers in 2009 on the global financial system.

The order…

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