The ‘Death Spiral’ of a Stablecoin

Cryptocurrencies are volatile, but so-called stablecoins were meant to be the exception. But after one major stablecoin, TerraUSD, crashed spectacularly, it caused ripple effects in cryptoland. WSJ’s Caitlin Ostroff explains why regulators are spooked, and what this could mean for the broader economy. Further Reading: Crash of TerraUSD Shakes Crypto. ‘There Was a Run on the Bank.  Cryptocurrency TerraUSD Falls to 11 Cents, Creator Announces Rescue Plan  Further Listening: Bitcoin Comes Untethered  Learn more about your ad choices. Visit megaphone.fm/adchoices