Total crypto market cap drops to $850B as data suggests further downside
The crypto market managed an 11% bounce from the Nov. 9 low, but a handful of metrics show a severe lack of investor confidence.
The crypto market managed an 11% bounce from the Nov. 9 low, but a handful of metrics show a severe lack of investor confidence.
Sam Bankman-Fried no longer qualifies for a listing on the Bloomberg Billionaires Index, while Elon Musk’s reported net worth has dropped by more than $86 billion in recent days.
Cointelegraph is a member of the network of organizations committed to using blockchain technology for climate action.
The DeFi market faced the heat of the FTX turmoil as well with the majority of tokens and projects registering a blood bath over the past week.
Bitcoin, altcoins and crypto-linked stocks correct sharply after FTX officially files for bankruptcy with BTC price slipping below its June lows again.
The collapse of Sam Bankman-Fried’s crypto empire is likely to have repercussions beyond the crypto markets, according to Mike McGlone, senior commodity strategist at Bloomberg.
After lecturing us about crypto regulation, Sam Bankman-Fried’s house of cards collapsed this week as FTX declared bankruptcy.
FTX Europe was one of roughly 130 companies in FTX Group which will be a part of bankruptcy proceedings in the United States.
FTX CEO Sam Bankman-Fried has resigned from his position but will “remain to assist in an orderly transition” before being succeeded by John Ray.
The emerging longevity sector is attracting many crypto natives, who can both benefit from it and contribute to it with blockchain tools.