The Straits Times-June 3, 2022

During the early days of cryptocurrencies, some financial advisers would have counselled that people should invest in this new asset class only if they were prepared to lose their entire investment. It would appear that after more than a decade, this advice is still valid for at least some crypto assets. Over the years, thousands of cryptocurrencies and tokens have come and gone. Last month, the so-called stablecoin Terra and its sister token Luna lost almost 100 per cent of their value in just over a month, wiping out more than US$40 billion (S$55 billion) in valuations. Even the longest-established crypto asset, Bitcoin, remains highly volatile and is down more than 50 per cent since its record high last November, while its smaller peers have fared even worse. Read more at: https://www.straitstimes.com/opinion/st-editorial/the-straits-times-says-crypto-assets-too-risky-for-retail-investors First published in The Straits Times