US$2 trillion free-fall rattles crypto to the core

On a downturn: A smartphone with a terra logo displayed with US dollars. As bitcoin slipped almost 70% from its record high, the collapse of the terra ecosystem made US$40bil (RM176bil) of tokens virtually worthless. — Reuters

NEW YORK: For a generation of alienated techies, crypto’s all-for-one ethos was its biggest draw.

Now panic is spreading across this universe – and that same ethos is posing what may be the biggest threat yet to its survival.