US prosecutors have arrested Do Kwon, the cryptocurrency entrepreneur behind the crash of two digital currencies (TerraUSD and Luna) that lost over $40 billion last year, and charged him with fraud
The largest token fell as much 3.2% on Friday, breaking below $20,000 for the first time since January, after falling more than 8% on Thursday. Smaller coins like Ether, Solana also added to losses
The fall of cryptocurrency exchange FTX and an overall meltdown in the global crypto market has claimed another victim with established US bank Silvergate Capital
The carmaker had converted roughly 75% of its Bitcoin to fiat currency as of the end of June, adding $936 million of cash to its balance sheet, according to its shareholder letter
Total liquidations in the crypto market were $566.7 million in the past 24 hours, with Bitcoin and Ether at around $271 million and $192 million respectively
"Surging recession fears are crippling appetite for risky assets and that has crypto traders remaining cautious about buying Bitcoin at these lows," said Edward Moya
The world's largest cryptocurrency dropped as low as $26,970, to stand at its lowest since Dec. 28, 2020. In the last eight sessions, it has lost a third of its value, or $13,000
TerraUSD, the world's fourth-largest stablecoin, lost a third of its value on Tuesday, spooking cryptocurrency investors and partly contributing to bitcoin's tumble below $30,000 for the first time
Bitcoin dropped to a more than two-week low as fears of a possible Russian invasion of Ukraine prompted some analysts to predict the largest cryptocurrency could slide toward the key $30,000 level
The development occurs as the volatile currency witnesses a free fall from $69,000 in November to nearly $36,000 (on Thursday), owing to regulatory scrutiny and geopolitical unrest.
