Krypto/Luna: Börsen should be the only winners

Too big to fail. This is the hope that some crypto enthusiasts drift who see opportunities in the recent crisis. Luna - once one of the top 10 global cryptocurrencies after market capitalization - lost 99.99 percent of its value last week after his paired StableCoin Terrausd collapsed. The duo investors have lost more than $ 45 billion. Speculators have crept in undeterred.

In South Korea alone, 280,000 investors hold Luna, with almost two thirds bought the token after the price began to fall at the beginning of this month. With about a hundredth of cent, compared to almost $ 100 less than a month ago, the reason is that there is no longer any further falling.

Your logic is deceptive. Investor protection in connection with virtual assets is still in its infancy. This leaves little recourse if the cryptocurrency is taken from the stock exchange.

On Wednesday, one of the largest Korean stock exchanges, basket, announced that they no longer support the trade with Luna next week, which practically leads to Luna being taken from the stock exchange. Peer Bithumb will stop support this week. Supervisory authorities have instructed cryptocurrency exchanges such as basket to freeze assets associated with the Luna Foundation Guard, a fund furnished by the Terra developer Do Kwon.

worldwide there are about $ 160 billion in stable coins. For most crypto exchanges, the list requirements for new coins are anything but strict. With thousands of blockchain start-ups that want to list your coins, the stock exchanges with the task are overwhelmed to check every new token. In Korea, for example, more than 600 different varieties are traded. It is a lucrative business for stock exchanges that require a fee of up to 0.25 percent for each trade.

The list criteria must be defined more closely. The number of new tokens should increase. The financing of risk capital for blockchain startups spoke out last year. Excesses that charge fees for massive crypto trade volumes regardless of the market direction could in the end the winners could be this trade.