But to understand the dynamic that led to this year’s depressing year for crypto, we actually should start a few years before 2018. In bitcoin’s early days, Mt. Gox was the go-to service for handling transactions. Then, in 2014, it halted transactions and slowly copped to a crypto-hack to the tune of $473 million, the biggest hack of its kind at the time, and it gave many people pause. But it was still early enough for people to believe that the blockchain system was still getting all the technical kinks out.
Yet tales of meme-coin holders becoming millionaires have attracted new waves of retail investors to crypto — along with a growing number of nefarious players. In May, the Federal Trade Commission tallied a record number of crypto investment scams, with Americans’ losses totalling around US$80 million since October.
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Bitcoin wasn’t the only cryptocurrency to feel the initial effects, with most of the top 10 all experiencing dips in value.
Insurance and risk management for digital assets will increase investor confidence, said OneDegree.
Users are being warned after a security breach at Robinhood has leaked sensitive information.
Under the new law, El Salvador will “promote necessary training and mechanisms so that the population can access [Bitcoin] transactions.”
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"We are LIVE and BOOMING!," said the community behind the newly launched Lorde Edge coin.
Here’s our guide to crypto, and why so many people are talking about it these days.
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When the spectre of restrictive regulation hovers over the cryptocurrency markets, steep drops invariably occur. If it happens to concern China or the US, brace yourself if you’re an investor—the market never stops trading, and what took months to build can crumble to nothing in an afternoon.
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