New Yorkers who were “deceived or affected” by the recent crash in cryptocurrency are being urged by New York Attorney General Letitia James to contact her office.
James says some high-profile cryptocurrency businesses have frozen customer withdrawals, announced mass layoffs, or filed for bankruptcy, while investors have been left in financial ruin.
The total value of crypto assets hit a peak of $2.8 trillion last November. In June, it was reported to be below $1.3 trillion, according to CoinGecko. Surveys show that roughly 16% of adult Americans, or 40 million people, have invested in cryptocurrencies.
“The recent turbulence and significant losses in the cryptocurrency market are concerning,” said James in prepared remarks. “Investors were promised large returns on cryptocurrencies, but instead lost their hard-earned money. I urge any New Yorker who believes they were deceived by crypto platforms to contact my office, and I encourage workers in crypto companies who may have...
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