Top News this Week (15 May)
By Financial Horse  •  May 15, 2022
Rounding up top investing articles from around the web, including articles shared in our Facebook Group and Reddit Community: r/SingaporeInvestments.

Bitcoin drops below $27,000 level as crypto sell-off continues (CNBC)

Cryptocurrencies fell with stocks after the Bureau of Labor Statistics reported consumer prices for the month of April jumped 8.3%, which was slightly higher than expected by economists polled by Dow Jones. That spooked investors, leading them to exit risk assets including crypto. Cryptocurrencies remain highly correlated with the S&P 500 and, more recently, the Nasdaq Composite.

Controversial stablecoin UST — which is meant to be pegged to the dollar — plummets below 30 cents (CNBC)

  • UST, a so-called stablecoin that’s meant to maintain a $1 peg, plunged to as low as 26 cents Wednesday.
  • Sister token luna has lost roughly 96% of its value in the past seven days
  • Terra creator Do Kwon announced a last-ditch effort to return UST to its $1 peg.
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By Financial Horse
Financial Horse was started to demystify financial investments. He is a firm believer in Einstein’s quote that “If you can’t explain it to six-year-old, you don’t understand it yourself.” Too much of finance is shrouded in complex jargon, and Financial Horse gallops through the mysteries ...

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