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This week’s undoing of the TerraUSD algorithmic stablecoin and its sister token, Luna, has ramifications for all of crypto. First, there is the immediate impact: The rapid collapse of a once-popular pair of cryptocurrencies sent a ripple effect across the industry, contributing to plummeting coin prices that wiped hundreds of billions of market value from the digital-asset market and stoked worries over the potential fragility of digital-asset ventures. Then there are the knock-on effects. In addition to delivering punishing losses to individual users and investment firms, the spectacular failure of a market darling like Terra threatens to have a cooling effect

New yorkUnited statesDavid marcusKyle samaniPeter fentonChris mccannMatt walshBilly dishmanHannah miller bloombergDana stalderEdith yeungCoinbase global incGalaxy digital holdings ltdMeta platforms incLuna foundation guardHannah miller