Bitcoin's 2021 gains wiped out in stablecoin rout

13 Sept 21:01 Key points summarised by AI

Bitcoin plummeted to a 16-month low of $25,401, erasing all its 2021 gains, amidst a widespread cryptocurrency sell-off triggered by a stablecoin rout.
The primary catalyst was the catastrophic collapse of TerraUSD (UST), an algorithmic stablecoin, which lost its 1:1 dollar peg and fell to around 50 cents.
This market panic extended to other major cryptocurrencies like Ether and even caused reserve-backed stablecoins, including Tether, to show signs of stress.
The incident raised significant concerns about the stability of cryptocurrencies and their reliability as a dependable store of value during broader market volatility.

Macron condemns those who 'sought to bring down the Republic' after rioting mars nationwide protests

Yesterday 12:56 Key points summarised by AI

President Macron condemned widespread rioting and looting during nationwide protests, blaming far-left activists and criminals for the "unrestrained violence" and vowing accountability for those who "sought to bring down the Republic."
Over 2,400 arrests were made as protests against rising living costs and poor school conditions escalated, causing extensive damage to public buildings and businesses in cities like Paris, Limoges (where City Hall burned), Marseille, and Lyon.
The unrest, which organizers hoped would revive the "yellow vest" movement, saw political leaders trade blame, with Macron instructing prefects to protect public buildings and potentially ban future protests to prevent further disorder.