Law Decoded: The long waves in the aftermath of UST’s crash, May 16-23 By Cointelegraph

Law Decoded: The long waves in the aftermath of UST’s crash, May 16-23

Cryptocurrency May 24, 2022 03:40AM ET

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Law Decoded: The long waves in the aftermath of UST’s crash, May 16-23

It’s been two weeks since the shock of the TerraUSD (UST) depegging, but the long waves of this event are still coming in. The Congressional Research Service described the UST crash as a “run-like” scenario and claimed that the crypto industry has not reached the same level of “adequate regulating” as the traditional finance market.

Michael Barr, former advisory board member of Ripple Labs and United States President Joe Biden’s pick for a vice chair for supervision at the Federal Reserve, definitely agrees with that. During the confirmation hearing, he mentioned “some significant risks” that innovative technologies and cryptocurrencies, in particular, bring along.

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US 30	31,398.7	-102.0	-0.32%
US 500	3,899.5	-12.2	-0.31%
Dow Jones	31,500.68	+823.32	+2.68%
S&P 500	3,911.74	+116.01	+3.06%
Nasdaq	11,607.62	+375.43	+3.34%
S&P 500 VIX	27.23	-1.82	-6.27%
Dollar Index	103.870	-0.089	-0.09%

Crude Oil WTI	106.52	-0.54	-0.50%
Brent Oil	108.03	-1.07	-0.98%
Natural Gas	6.244	-0.037	-0.59%
Gold	1,835.70	+7.60	+0.42%
Silver	21.245	+0.086	+0.41%
Copper	3.7780	+0.0335	+0.89%
US Soybeans	1,520.75	0.00	0.00%

SPDR S&P 500	390.08	+12.02	+3.18%
iShares Russell 2000	175.09	+5.26	+3.10%
Invesco QQQ Trust	294.61	+9.76	+3.43%
Direxion Daily Junior Gold Miners Bull 2X Shares	41.52	+2.75	+7.09%
iShares Silver	19.51	+0.14	+0.72%
ProShares Ultra VIX Short-Term Futures	14.39	-0.40	-2.70%
ProShares UltraPro QQQ	27.98	+2.65	+10.46%

Apple	141.66	+3.39	+2.45%
Alphabet A	2,359.50	+114.66	+5.11%
Tesla	737.12	+31.91	+4.52%
Amazon.com	116.46	+4.02	+3.58%
Netflix	190.85	+9.14	+5.03%
Meta Platforms	170.16	+11.41	+7.19%
Bank of America	32.31	+0.23	+0.72%

Law Decoded: The long waves in the aftermath of UST’s crash, May 16-23

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