$1.9T wipeout in crypto risks spilling over to stocks, bonds — stablecoin Tether in focus
Cointelegraph
Published May 15, 2022 05:10AM ET
Updated May 15, 2022 06:40AM ET
The cryptocurrency market has lost $1.9 trillion six months after it soared to a record high. Interestingly, these losses are bigger than those witnessed during the 2007's subprime mortgage market crisis — around $1.3 trillion, which has prompted fears that creaking crypto market risk will spill over across traditional markets, hurting stocks and bonds alike.
A massive move lower from $69,000 in November 2021 to around $24,300 in May 2022 in Bitcoin's (BTC) price has caused a selloff frenzy across the crypto market.
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Written By: Cointelegraph
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