Billionaire Bill Gates has dismissed cryptocurrency projects such as non-fungible tokens as shams “based on the greater-fool theory”.
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Coinbase Global will cut about 1 100 jobs, or 18% of its workforce, the cryptocurrency exchange said on Tuesday.
Crypto markets have dived in the past few weeks as rising interest rates and surging inflation prompted investors to ditch riskier assets across financial markets.
The value of the cryptocurrency market on Monday fell below $1-trillion for the first time since January 2021, reaching as low as $926-billion.
Bitcoin plunged to the lowest in about 18 months on Monday as the impact of Friday’s shock US inflation data continued to reverberate.
Cryptocurrency lending firm Celsius Network will pause withdrawals and transfers between accounts in the latest sign of pressure in the industry.
Ethereum, the world’s most used blockchain network, has passed a milestone test ahead of a highly anticipated technical upgrade.
Some investors are betting that bitcoin is bottoming out, judging by the money heading into listed cryptocurrency funds.
Much of the primary value of crypto assets is from their price volatility, which is part of their appeal. This has profound implications.
The Solana blockchain is back up and running after a software glitch caused an outage of more than four hours.