Crypto meltdown deepens as stablecoin Tether drops below dollar peg

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By Alun John, Elizabeth Howcroft and Samuel Indyk HONG KONG / LONDON (Reuters) -The meltdown in TerraUSD, one of the world’s largest stablecoins, sent shockwaves through cryptocurrency markets on Thursday, pushing another stablecoin Tether below its dollar peg and sending bitcoin to 16-month lows. Cryptocurrencies have been swept up in a sell-off across higher risk assets, which has picked up steam this week as data showed U.S. inflation running hot, deepening investor fears about the economic impact of aggressive central bank tightening. The sell-off has taken the combined market value of all…

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