SINGAPORE - Last week's cryptocurrency crash, led by the collapse of TerraUSD (UST) and Luna, pummelled confidence in the emerging asset class and triggered more urgent calls to regulate the sector.
Both the UST and Luna tokens lost more than 90 per cent of their value last week and probably will not regain investors' confidence, given that faith in the underlying crypto is key to its success, Ms Ipek Ozkardeskaya, a senior analyst at Swissquote Bank, said in a note on Friday (May 13).
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you