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Infini by Chef Urvin Croes
Wednesday
June 8, 2022
T: 582-7800
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Aruba’s ONLY English newspaper
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Crypto meltdown
is wake-up call for
many, including
Congress
By K. SWEET/F. HUSSEIN
The Associated Press
NEW YORK (AP) — Melt-
downs in the cryptocur-
rency space are com-
mon, but the latest one re-
ally touched some nerves.
Novice investors took to
online forums to share tales
of decimated fortunes and
even suicidal despair. Ex-
perienced crypto support-
ers, including one promi-
nent billionaire, were left
feeling humbled. When
the stablecoin TerraUSD
imploded last month, an
estimated $40 billion in in-
vestor funds was erased —
and so far there has been
little or no accountability. Ranking member Sen. Pat Toomey, R-Pa., speaks during a Senate Banking, Housing, and Urban Affairs Committee hearing,
Tuesday, May 10, 2022, on Capitol Hill in Washington.
Continued on Page 2 Associated Press