The crypto market continues to collapse

News of the day, Friday, May 13

Jerome Powell, the Fed’s Chairman, has warned that control over inflation might cause some economic problems yet it remains his main priority.

As the collapse of TerraUSD stablecoin rippled through the markets, Bitcoin has plummeted to nearly $30000 as well as the majority of crypto assets.

Tether, the most major stablecoin, fell to 93.35 cents, over 6.5% below its peg.

Norwegian Air has announced the Q1 loss report and said the increased number of bookings won’t exceed the negative effect of the fuel price surge.

The Securities and Exchange Commission is investigating Elon Musk’s late disclosure of his stake in the Twitter acquisition. Musk disclosed the deal 10 days later than the regulations allow.

The price of Brent crude is $107.94, WTI — $106.40, GBP/USD — 1.2225, EUR/USD — 1.0408, and gold costs $1822.40 per ounce.