Crypto news Financial News

crypto's all-for-one ethos was its biggest draw. Now panic is spreading across this universe — and that same ethos is posing what may be the biggest threat yet to its survival. What started this year in crypto markets as a “risk-off” bout of selling fueled by a Federal Reserve suddenly determined to rein in excesses has exposed a web of interconnectedness that looks a little like the tangle of derivatives that brought down the global financial system in 2008. As Bitcoin slipped almost 70% from its record high, a panoply of altcoins also plummeted. The collapse of the Terra ecosystem — a much-hyped experiment in decentralized finance — began with its algorithmic stablecoin losing its peg to the US dollar, and ended with a bank run that made $40 billion of tokens virtually worthless. Crypto collateral that seemed valuable enough to support loans one day became deeply discounted or illiquid, putting the fates of a previously invincible hedge fund and several high-profile lenders in doubt. The seeds that spawned the meltdown — greed, overuse of leverage, a dogmatic belief in “number go up” — aren’t anything new. They’ve been present when virtually every other asset bubble popped. In crypto, though, and particularly at this exact moment, they are landing in a new and still largely unregulated industry all at once, with boundaries blurred and failsafes weakened by a conviction that everyone involved could get rich together.

Crypto broker Voyager likely to issue default notice to Three Arrows

After rout, Bitcoin options point to positive signs, traders say

Crypto exchange FTX in discussion to acquire stake in BlockFi: Report

It's a vicious circle long familiar to those in traditional finance: trades made with borrowed money coming apart when the value of their collateral put up against the loans drops, forcing liquidations that in turn push prices down further.

Crypto fears now materialising, central bank body BIS says

US crypto firm Harmony hit by $100 million heist

Crypto broker Voyager Digital lowers daily withdrawal limits to $10,000

Financial watchdogs should do more to protect crypto investors: Swiss regulator

Crypto platform FalconX doubles valuation to $8 billion in new funding round

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El Salvadors Bitcoin journey hits rough patch amid crytpo winter

Crypto stock short sellers up about 126% this year - S3 Partners

MicroStrategy scotches 'margin call' fears, says can withstand volatility

Bitcoin rout hits darkest phase with the entire market underwater

Crypto contagion fears spread after Celsius Network freezes withdrawals

Cryptoverse: The funds making moolah from messy markets

Millennials hunting returns drive risk-hungry investing in India

Cryptocurrency market value slumps under $1 trillion

The total crypto market volume rose 3.49 percent to $84.24 billion over the last 24 hours.

Bitcoin has lost half its value since a November10 peak of $69,000.