The absurd but often-hyped claim that “crypto is digital gold” has collapsed. The LUNA token, part of TerraUSD “stablecoin” ecosystem, turned out to be entirely unstable, collapsing to zero after a massive hyperinflationary LUNA token creation event (combined with a redemption / selloff factor) that plunged into a death spiral this week. All LUNA investors are completely wiped out, and the very idea of a “stablecoin” has taken a huge hit in credibility. (Only in the crypto world could something described as “stable” by the entire community collapse to zero virtually overnight, with almost no one calling out the irony.) https://www.naturalnews.com/2022-05-13-crypto-carnage-and-market-mayhem-foreshadowing-the-mother-of-all-collapses.html