Citi also discussed Terra’s downfall in its latest report.
Citi, one of the world’s leading banks, has published a new report. In the report dated May 13, the Terra collapse that shook the crypto money world was also mentioned.
While the report states that the cryptocurrency market is under pressure after the collapse of the third largest stablecoin, UST, on the other hand, it was noted that this collapse is not likely to hit the wider financial system. Citi analysts also said they didn’t see any obvious “leading effects” from Bitcoin to S&P 500 index futures.
Analysts added that regulatory activities will increase following the LUNA and UST incident. Such regulatory activities have already increased by some South Korean and US financial regulators.
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