The right way forward for crypto in New York ...Middle East

NY Daily News - Opinion
source : NY Daily News ( Middle East ) () 31
These past several weeks have been near-apocalyptic for the cryptomarkets. In 24 hours, the market capitalization for cryptocurrencies fell by 12%, dropping from $1.1 trillion to $970 billion. We’ve seen some stablecoins — cryptocurrencies that are supposedly secured by other assets to decrease price volatility — fail catastrophically, defaulting appallingly on their promise to maintain a fixed value. The price of Bitcoin slid to $20,000, down almost 70% from its former high of $66,000 last year. Celsius, a major cryptocurrency lending firm, halted transactions and is seemingly preparing for bankruptcy. And Coinbase is laying off 1,100 employees from its crypto exchange.

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