Cryptocurrency is having an existential crisis. Last month, crypto lender Celsius filed for bankruptcy protection. It has frozen withdrawals since June 12, and it's unclear if or when customers will get their money back. But Celsius is just one domino to fall.
Crypto lender Voyager Digital also recently filed for bankruptcy protection. Ordinary investors who deposited their money into Voyager likely don't know if or when they will see their funds again. Bitcoin, meanwhile, recently fell more than 70% off its all-time high from last year.
And back in May, TerraUSD (UST), a so-called stablecoin that was supposed to trade at $1, saw its price fall well below that, causing steep losses for those who held it or its sister coin Luna (Luna's value was linked to UST).
The underlying problem is a combination of risky lending, poor risk management and opaque finances. So when crypto prices crashed, likely as a result of fears of rising inflation and the possibility of a recession, some crypto...
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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...