Crypto news

Bitcoin bull and crypto investor Cathie Wood thinks the FTX debacle may have done irreparable damage to the crypto space, and she says the incident will likely make many institutional investors stay away for a long time. Cathie Wood Thinks the Damage Done by FTX Is Severe The FTX fiasco will go down as one of the biggest embarrassments of the arena. Long considered one of the greatest players in crypto, the company first came to fruition in 2019. It rose through the...

FTX caused a lot of nasty spillage and other problems in late 2022. Here we are in 2023, and unfortunately, the final remnants of what will likely be labeled a huge bad actor and very poor player in the crypto economy continues to wreak havoc on the space and on customers. FTX Customers May Not Get Their Funds Back It has been suggested by many analysts and traders that the company’s users will not get their money back. That’s right… Whatever funds they lost due to the...

The crypto sector experienced significant challenges in the first half of 2022, with the prices of major assets like bitcoin (BTC) and ether (ETH) experiencing a 50%+ drop in value. The situation was further exacerbated by the collapse of the Terra ecosystem in the second quarter, which had a ripple effect on the industry. As a result, major industry players such as Three Arrows Capital, Celsius Network, and Voyager Digital filed for bankruptcy later in the year. The bear...

2023 has finally arrived. Happy New Year to all digital currency enthusiasts out there! Here’s to hoping that all bitcoin players are greeted with kinder, gentler, and more loving maneuvers to their crypto stashes than what was doled out in 2022. Could Bitcoin Recover Soon? To say 2022 was a bad year for crypto would be a huge understatement. It was by far one of the most bearish periods ever to strike the space, and many argued that assets like BTC were on the verge of...

The end of 2022 brought almost zero volatility for bitcoin, which remained flat at around $16,500. Most altcoins also failed to produce any significant volatility, aside from the two recent high-flyers – OKB and Toncoin. Bitcoin Stalls at $16.5K In yesterday’s Market Watch, CryptoPotato summarized bitcoin’s overall price movements in 2022, which started on a high note at almost $50,000 but ended 65% lower following a violent year that saw multiple collapses. While zooming in...

Cryptocurrency firms struggled greatly in 2022, with multiple companies facing financial issues and bankruptcy. In addition to these challenges, over $3 billion was stolen from crypto projects this year, according to Forbes. These setbacks have caused turmoil in the industry and raised concerns about its stability. According to the report, crypto projects witnessed more than 125 hacks, and the top five heists (all involving decentralized finance (DeFi) protocols) accounted...

South Korean authorities appear to have tightened their control over the digital asset space. As such, two high-ranking execs, named Mr.Yang and Mr. Oh of the fraudulent crypto exchange, V Global, were sentenced to eight years and three years, respectively, for their role in defrauding investors. V Global reportedly lured investors by promising 300% returns. The exchange, which operated between July 2020 and April 2021, required new users to create accounts and deposit...

Publicly-traded business intelligence company MicroStrategy revealed that it sold part of its bitcoin stash on December 22 for tax purposes. Although the firm later purchased more bitcoins, the sale defied its promise of never selling any portions of its BTC stash. MicroStrategy Sold BTC for Tax Benefits As reported earlier, MicroStrategy purchased 2,395 bitcoins worth about $42.8 million between November 1, 2022, and December 21, 2022. The company then sold 704 BTC for about...

The price of bitcoin took a massive hit in 2022, dropping by more than 50% in 12 months. However, the crypto analytics platform Santiment believes there’s more bad news incoming in the new year. The company based its rather bearish prediction on the BTC whales’ activity. BTC Whales Are Net Sellers Santiment began its 2023 prediction analysis by highlighting the significance of BTC whales’ behavior for the asset’s price movements. This is somewhat expected since these types of...

Bitcoin had a very harsh year in 2022. Can we expect 2023 to be any better now that it’s about to enter the fray? The Bitcoin Price Had It Really Hard This Year We are literally hours away from greeting 2023, and we can’t help but reflect on what a year 2022 has been for the world’s number one digital currency by market cap. The crypto space has had extreme difficulty staying at the top of its game these last 12 months, and many of us are surprised that bitcoin and its...