. As days go on, more and more firms, companies, and platforms alike are coming forward with updates on their financial health or lack thereof.From big players to everyday investors, the impact is being felt far and wide. Even major cryptocurrency-related companies, likeand headcount reductions—several of them having just spent millions on Super Bowl ads as crypto’s market cap was near its peak.
Urban compared the current state of the crypto market to the bursting of the internet bubble in 2000. Looking ahead, he predicts that alongside the distress, innovation will come out of this time period. Many others echoed his remarks. This downturn has revealed the crypto-related projects and funds that were “utilizing more risk than what was prudent,” Miller said. “Similar to other downturns, many players become forced sellers and are subsequently washed out.”
The “biggest thing” to come out of this downturn will be a “focus on fundamentals,” says Tom Dunleavy, Messari senior research analyst.
Source: News Formal (newsformal.com)
Lolz investors fomoed the top and got rekt
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'I am good': Biden falls from bike but is unhurtREHOBOTH BEACH, United States: US President Joe Biden took a tumble as he was riding his bicycle near his beach home in the state of Delaware on Saturday (Jun 18) morning, but was unhurt. A video from a White House pool report showed the 79-year-old president immediately getting up after his fall. He then Might need a tricycle or training wheels KJU would like to send his giant 'get well' card. Pls open your email.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
askST Jobs: I am a fresh graduate starting an office job. How do I survive my first day of work?
Source: straits_times - 🏆 5. / 69 Read more »
Crypto industry gripped by anxiety as bitcoin wobbles near key $20,000 levelHONG KONG : The cryptocurrency industry was on edge on Monday morning as investors feared contagion from problems at major crypto players could unleash a major shakeout if not contained.Bitcoin which has lost 57 per cent so far this year and 37 per cent this month, fell below $20,000 over the weekend for after this news will come any moment will follow the stock markets on wall street where it will plummet
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Nketiah signs new Arsenal deal, gets number 14 shirtLONDON : Young striker Eddie Nketiah will wear Arsenal's iconic number 14 shirt next season after signing a long-term contract, the Premier League club said on Saturday.The 23-year-old joined Arsenal as a teenager and has made 92 first-team appearances, scoring 23 goals.It was only last season, how
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Bitcoin plunges below $20,000SAN FRANCISCO: Bitcoin plunged below US$20,000 on Saturday (Jun 18), shedding nine percent from the previous day to fall to US$18,740, its lowest level since Dec 13, 2020. With investors increasingly wary of risk, the world\u0027s most popular crypto asset has lost more than 72 per cent of its value since reach
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Middle East-focused crypto firm BitOasis cuts jobs amid sector turmoilDUBAI : BitOasis, a Middle East-focused cryptocurrency exchange based in the United Arab Emirates, said on Sunday it laid off nine of its staff, the latest company in the sector to cut jobs in the face of a downturn and market turmoil.The cryptocurrency market has been rocked by extreme volatility with cr
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »