Cryptocurrency USDC fallsto its lowest level ever, dropping to 87 cents before recovering to around 94 cents following the failure of Silicon Valley Bank.
The world's second-biggest cryptocurrency trade platform by daily volume had reduced its workforce by 18 percent in June.
As crypto markets tank and payrolls are slashed, observers believe it might push the industry to prioritise real-world applications over speculative transactions.
A powerful crypto lobby has started to assert itself in US politics in a short period of time.
EU lawmakers voted for measures that would expand anti-money laundering requirements and call for crypto firms to reveal the personal information of their customers.
Blockchain data analytics firm Chainalysis fast-tracked two tools that help identify crypto wallets that are on a sanctions list.
From El Salvador adopting Bitcoin as legal tender to a $69 million NFT being sold, 2021 was a singular year for the industry.
Cryptocurrency exchange Coinbase made a rousing debut on Wall Street , with shares of the digital currency exchange rising as high as $429, briefly giving it a market value over $100 billion.
Bitcoin hit a record of $62,575 on Tuesday, extending its 2021 rally to new heights.
The global cryptocurrency market has grown exponentially in 2021 and is now worth a staggering $2 trillion as it increasingly attracts interest from big names on Wall Street.
XRP, the third-biggest cryptocurrency, was last down 18.7 percent at an intra-day low of $0.20, its lowest since July.
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