Crypto Winter Watch: All The Big Layoffs, Record Withdrawals And Bankruptcies Sparked By The $2 Trillion Crash by jon_ponciano
hundreds of then buzzy new tokens. Sotiriou posits this downturn could last up to 12 months unless persistent inflation soon cools down, allowing the Federal Reserve to ease up on aggressive interest rate hikes that make risky assets less attractive to investors.
Piling on to bearish sentiment, Terra’s luna token, a once top cryptocurrency worth more than $40 billion, lost virtually all its value within a week in May after sister token TerraUSD, a stablecoin meant to hold a price of $1,
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Former Fed Regulator Calls For Full Ban On Bitcoin – Says Crypto Has No Real ValueLee Reiners – a former employee of the Federal Reserve Bank of New York and currently executive director of Duke University's Global Financial Markets Center – says he believes Crypto has no cash flow and should be kept out of the banking system.
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