First Mover Asia: Terra’s Difficult Post-Collapse Path: VCs Backing Away, Regulators Jumping on Stablecoins

To be sure, equity markets ended their Friday with a surge, but all that did was help the S&P 500 escape the bear market territory where it lingered for much of the day. The S&P, which bitcoin has tracked increasingly in recent months, closed flat after spending the morning and afternoon in the red. Indices earn bear market designation when they are off 20% from their previous highs. The tech-heavy Nasdaq, which crypto markets have tracked increasingly, rallied late to also hold its ground from the previous day, as did The Dow Jones Industrial Average (DJIA). Still, the DJIA declined for the eighth consecutive week, its longest weekly losing streak since the Great Depression. Each of the indices fell 2.9% or more for the week.