Memo to Crypto World: Wall Street is here to stay

Wall Street did it! At least that is one of the theories about the cause of the nearly US$50 billion meltdown of Terraform Labs stablecoin and LUNA cryptocurrency. How does that stand up?

"Michael Wong, cofounder and managing partner of Hong Kong-based crypto hedge fund MaiCapital, said the nature of DeFi or blockchain projects is that “they have to remain very open in terms of the transactions.”

This can expose them to aggressive trading strategies, he said, noting that this illustrates the need for robust risk management. MaiCapital’s strategy ..."

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