Crypto’s plummet tests the durability of a hype-driven industry

Terra, the crypto company that sponsored the tweet, could have started by answering some questions about itself.

A sell-off over just the past seven days has erased more than a quarter of the value from the global crypto market, according to CoinMarketCap. Most dramatically, UST’s sister coin, Luna,And interest in crypto trading overall seems to be cooling off. The plunge in crypto prices tracks a broader move by investors to dump risky assets, such as tech stocks, as the Federal Reserve hikes interest rates to battle inflation. The tech-heavy Nasdaq has fallen 10 percent since Thursday.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

What the OCC’s consent order to Anchorage means for the crypto industryOrders like these aren't necessarily a sign that a wider wave of enforcement is coming. Either way, they mean that the regulatory process is at work.
Source: TheBlock__ - 🏆 464. / 53 Read more »

Nigeria upgrades CBDC as crypto restrictions cripple fintech industryFor better or worse, Nigeria appears to be steering away from cryptocurrency. The country's central bank is moving ahead with plans to upgrade the country’s CBDC while maintaining harsh crypto restrictions that cripple the country’s fintech sector.
Source: Cointelegraph - 🏆 562. / 51 Read more »