Cryptocurrency USDC fallsto its lowest level ever, dropping to 87 cents before recovering to around 94 cents following the failure of Silicon Valley Bank.
A shortfall in tech firms' quarterly earnings has seen the finger pointed at crypto – a reflection of how intertwined crypto and tech have become.
Crypto exchange giant, Binance, was fined by the Dutch central bank for offering services without being registered in the country.
Required under President Biden’s executive order on digital assets, the US Treasury published a fact sheet citing the need for consumer, investor and business protections.
BIS says crypto’s structural flaws make it an unsuitable basis for a monetary system. Instead, central bank digital currencies offer a better solution for settlements, transfers and payments.
As crypto markets tank and payrolls are slashed, observers believe it might push the industry to prioritise real-world applications over speculative transactions.
The last time bitcoin was at this level was November 2020, when it was on its way up to its all-time high of nearly $69,000.
The sell off was a result of Celsius' suspension of withdrawals and Friday's high US inflation data driving expectations of sharper interest rate rises from the Federal Reserve, said Singapore based fund manager.
Home to around 25 million, some residents of the Chinese city are minting their lockdown-related visuals as non-fungible tokens (or NFTs) or buying and selling content through cryptocurrencies that cannot be erased.
Millions have poured into NGOs and hacktivist groups to support the Ukrainian resistance since Russia’s offensive began on Thursday.
DeFi aims to revolutionise banking by allowing anyone with internet access to lend and borrow without going through a middleman. Is it the future of finance?
World Economic Forum warns that a digital shift propelled by the pandemic and a space race facilitated by falling costs for launch technology bring fresh challenges for the global economy.
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