Acting Comptroller of the Currency Michael Hsu said this week that hype is a serious risk for cryptocurrencies and likened certain crypto transactions to Ponzi schemes, warning that the crypto space is very dangerous for investors of modest means.
The comments come after the collapse of stablecoin TerraUSD (UST-USD) on May 9 reverberated through the cryptocurrency market.
“The recent collapse of the TerraUSD stablecoin and associated sell-off in crypto markets has shown that hype-driven…
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