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Luna/UST Collapse: Are you feeling okay?
By Retire by 50  •  May 15, 2022
In the past 72 hours, investors in the cryptocurrency space have experienced one of the largest shockwaves throughout the history of cryptocurrency. Terra's UST, one of the largest stable coin by market cap has lost its peg to the US Dollar and has failled to recover. It has also brought down Luna, the cryptocurrency that was supposed to help re-peg UST based on the algorithm design. The impact of this collapse has also affect many other cryptocurrencies as well. If you have invested in UST to park it in Anchor Protocol for the luring 20% yield, I have one question for you. Are you feeling okay? Losing my money when UST collapsed If you have read my past article, "How I am adding cryptocurrencies into my savings and investments in 2022", you would know that I have invested some money into the Anchor Protocol. While I have 50% of my bond alternatives in stable coins, I diversified them into a 50-50 split...
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By Retire by 50
RetireBy50.me is a personal blog about my journey to retirement by the age of 50. At 31, I am a typical white-collar Singaporean who works regular hours in a job while looking for other opportunities to make more money during non-office hours. This blog will discuss the hits-and-misses encountered during my journey to free myself from the corporate rat race. Will I get there by 2033? Stay tuned.
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