With cryptocurrency prices collapsing, a handful of companies found themselves pulling a move pulled from the playbook of a 1920s bank: freezing withdrawals.
There’s no getting around it, June was a disastrous month for cryptocurrency.
Though cryptocurrency prices have trended down for the better part of 2022, investors truly had the rug pulled out from under them in the past two months. With bitcoin prices in particular plummeting to values not seen since 2020, exchanges and lenders were forced to do something few expected. One after another, firms halted or severely limited withdrawals, leaving investors uncertain whether they would ever see their real life money again.
Though some of these firms have since resumed withdrawals, others have only offered notes of optimism without tangible promises. There’s reason to believe the worst may still lie ahead. In an interview with Forbes earlier this week, Sam Bankman-Fried, the founder of the massive crypto exchange FTX, said he was...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...