In The News Today

Posted at 11:31 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

They are warning you ahead of time about the “…aaand it’s gone” moment?  As a reminder, one owns gold and silver precisely because they cannot go “bankrupt” in a world that mathematically will!

Coinbase Admits Users May Lose Crypto If Exchange Goes Bankrupt

Hidden away in Coinbase Global’s disappointing first-quarter earnings report—in which the U.S.’s largest cryptocurrency exchange reported a quarterly loss of $430 million and a 19% drop in monthly users—is an update on the risks of using Coinbase’s service that may come as a surprise to its millions of users.

In the event the crypto exchange goes bankrupt, Coinbase says, its users might lose all the cryptocurrency stored in their accounts too.

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Bill Holter’s Commentary

Stable?

Terra UST Stablecoin Dives Below $1 Peg; Luna Cryptocurrency Down 80%

The two main tokens from embattled crypto project Terra went into free fall Wednesday.

TerraUSD, or UST, plunged to as low as 26 cents. The so-called stablecoin is meant to maintain a 1-to-1 peg with the U.S. dollar. It was last trading at around 68 cents, according to Coin Metrics data.

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