A weekly look at the most important moves and news in crypto and what's on the horizon in digital assets.
Hello! Welcome back to Distributed Ledger, our weekly crypto newsletter that reaches your inbox every Thursday. I’m Frances Yue, crypto reporter at MarketWatch. Find me on Twitter at @FrancesYue_ to send feedback or tell us what you think we should cover.
Crypto Metrics Note: The list only includes moves of the top 100 largest cryptocurrency by market capitalization. As the losses were extended, Terraform Labs restarted the Terra blockchain to “prevent governance attacks,” it tweeted Thursday. Tether briefly falls off peg Tether, the largest cryptocurrency stablecoin by market cap, fell to as low as 95 cents against the dollar briefly on Thursday, before it recovered to about $1, according to CoinDesk data.
“I wouldn’t characterize it at this scale as a real threat to financial stability, but they’re growing very rapidly,” Yellen said, during testimony at the House Financial Service Committee. Crypto companies, funds Shares of Coinbase Global Inc. COIN gained 1.8% to $54.68 on Thursday, while it has fallen 52% over the past five trading sessions. Michael Saylor’s MicroStrategy Inc. MSTR lost 2% Thursday to $164.84, while it was down 47.3% over the past five days.
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