U.S. stock futures rose Wednesday ahead of the first of two key inflation reports out this week.
. It also announced a quarterly loss of $1.98 per share. Coinbase noted a decline in users, with the digital currency market recently experiencing a major downturn. Bitcoin has lost more than 50% since its all-time high of more than $68,000 in November.The two main tokens from embattled crypto project Terra. UST, a so-called stablecoin that's meant to maintain a 1-to-1 peg with the U.S.
dollar, plunged to as low as 31 cents Wednesday. Sister token luna dived more than 80% to $3.78. Stablecoins are akin to bank accounts for the crypto economy, offering a sound store of value to avoid the kind of volatility cryptocurrencies like bitcoin have become notorious for — in theory, at least. While still new, UST has grown to become a major player in the crypto economy, with a circulating supply of 16 billion tokens.
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