Recent crypto chaos proof that Beijing’s ban on cryptocurrency trading was justified, says Chinese state-run newspaper The Economic Daily
Energy consumption on the bitcoin blockchain network has declined by up to 35% amid a meltdown in the value of the cryptocurrency, Mint reported, citing trackers of crypto energy usage
Moody's placed its ratings on review for further downgrades, saying Thursday's move "reflects Coinbase’s substantially weaker revenue and cashflow generation"
The crypto lender said it carried out an emergency assessment of its business operations to determine the company's liquidity status.
The crypto sector was fearful on Monday as investors worried that contagion from problems linked to several large crypto players may lead to a major shakeout if not contained.
CBDCs such as China's digital yuan (e-CNY) are centralised by design and don't need a decentralised ledger, such as in the case of bitcoin
The biggest cryptocurrency is down about 32% over the past month and almost 60% this year
The world's largest cryptocurrency was trading at $22,338.49 on Thursday in Asia, according to Coinbase, after falling to $20,079.72, its lowest level since December 2020
Falling values could turn into a vicious downward selling spiral as buyers willing to provide price support evaporate.
Asset management firm One River sought to list on the NYSE Arca exchange, but the Securities and Exchange Commission ruled the ETF did not meet standards
The Bitcoin mining ban in China last year had collapsed its crypto markets. Despite that, the country has reemerged as a major bitcoin mining hub, according to research by the UK's University of Cambridge.