The last 12 months have been tough on digital currency investors as the crypto winter has caused a large sum of value to leave the once-bustling economy. The privacy coin economy, for instance, shed more than 55% against the U.S. dollar as it dropped from $11.7 billion in Jan. 2022 to the current $5.22 billion. Privacy Economy Loses 55% Against…
This week in coins. Illustration by Mitchell Preffer for Decrypt. The crypto market is limping into the new year, but the week heading into Christmas brought very modest gains for the two leading coins. As of Saturday morning, Bitcoin (BTC) is up nearly 1% over the past seven days and Ethereum (ETH) is up nearly 4%, according to CoinMarketCap data.…
The cryptocurrency industry experienced the tail end of a bull run and the start of a brutal bear market this year, and some firms struggled while others prospered. Two major collapses—that of Terra and FTX—had a significant impact on the price action of the largest cryptocurrencies by market cap and sent shockwaves across the industry. While some major figures made…
The cryptocurrency industry has seen more than its fair share of controversy, fraud, and questionable decisions this year. From the downfall of the ambitious Terra blockchain helmed by tall-talking Do Kwon to its domino effect on now-bankrupt firms and the stunning collapse of FTX, a new crop of controversial figures emerged—and they’re on Santa’s naughty list. Sam Bankman-Fried Once a…
London-based Faes & Company filed a complaint against crypto mining firm Blockware Solutions LLC on Dec. 17, claiming it misrepresented the performance capability of its miners and lacked adequate power access to keep the machines running. Plaintiffs allege losses of $250,000 and are seeking compensatory and punitive damages. According to the complaint, the parties entered into contracts in October 2021…
Solana fell to a one-month low to start the weekend, as cryptocurrency markets moved lower ahead of Christmas Day. Today’s drop saw the token fall for a fourth straight session, as market sentiment shifted bearish. Uniswap was also in the red on Saturday, with price falling for a second consecutive day. Solana (SOL) Solana (SOL) was in the red on…
From Terra to FTX, 2022 has given us many weird crypto stories. While investors have been enduring a bear market that saw the crypto industry sink below the $1 trillion market capitalization mark, adoption in the space has been growing, and old mysteries were finally solved. From the incredible short squeeze of a bankrupt company’s token to old anti-crypto arguments…
Given the contagion and chaos we have witnessed since Sam Bankman-Fried’s crypto exchange FTX had a sudden multibillion-dollar coronary, you may be tempted to conclude the entire crypto industry is headed for the great Chapter 11 bankruptcy filing in the sky, and that nobody in their right mind could possibly still have faith in it. And yet, even in the…
After a lackluster rise of crypto in 2021, which saw many new crypto millionaires and several crypto startups attain unicorn status, came the dramatic fall in 2022. The industry was plagued by macroeconomic pressures, scandals and meltdowns that wiped out fortunes virtually overnight. As 2022 comes to a close, many crypto proponents are perplexed about the state of the industry,…
Bitcoin rose closer to the $17,000 level on Saturday, despite crypto markets mostly consolidating to start the week. The global cryptocurrency market cap is down 0.32% as of writing. Ethereum was also higher earlier in the day, with prices nearing the $1,230 level. Bitcoin Bitcoin (BTC) remained under the $17,000 level to start the weekend, as prices continued to consolidate…
