The European Central Bank (ECB) warned on Tuesday that cryptocurrencies will pose a risk to financial stability if the emerging sector maintains its rapid growth of the past two years and if financial firms step up their involvement.
Crypto Market Drops After Hitting a High Last Year
The crypto market fell sharply this month after the collapse of Terra blockchain coins, which challenged the stability of algorithmic stablecoins like UST, which are not backed by fiat currency.
Cryptocurrencies have exploded in size during the COVID-19 pandemic. Institutional investors in particular have been drawn to …
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