A number of algorithm-based stablecoins have already failed; bitcoin and other cryptos see deep red. Author: Shaurya Malwa, Damanick Dantes, James Rubin

The noted crypto investment firm removed mention of the fund from its website, citing decreased demand. Author: Brandy Betz

Basis Cash, an algorithmic stablecoin project founded by the anonymous “Rick” and “Morty” in 2020, was actually the work of Terraform Labs employees. Author: Sam Kessler, Danny Nelson

This blockchain-based application’s users must purchase a “virtual sneaker” NFT to earn crypto rewards. Consumer advisory: They start at around $800. Author: Lyllah Ledesma

Most signs have pointed downward, but predicting price trends in the days and weeks ahead is difficult; cryptos have a mixed day. Author: Sam Reynolds, Damanick Dantes, James Rubin