The Ukraine war has shown that cryptocurrencies are no hedge against equities ...Middle East

Quartz - Economy
The Ukraine war has shown that cryptocurrencies are no hedge against equities
The near halving of cryptocurrency prices in recent weeks, mirroring a sell-off in the global stock markets, indicates that digital coins may not be a particularly reliable asset during economic uncertainty.The Russia-Ukraine war and the US Federal Reserve’s move to scale back monetary support have forced investors to switch from risky assets like equities to safer alternatives. Cryptocurrencies, otherwise deemed a safe bet against inflation, don’t seem to fall in the “safe” category.The instability of TerraUSD (UST) prices last week aggravated the recent sell-off. On May 12, the prices of Tether, the world’s biggest stablecoin, too, fell below its $1 peg to 95 cents briefly.Read the rest of

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