A crypto winter or a meltdown? Recession fears and layoffs hit crypto currencies
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Bitcoin hit a record of more than $69,000 in November of 2021; today, it's trading around $23,000. Bitcoin is down about 70% from its all-time high, and other smaller digital currencies like Dogecoin are also down. Several crypto companies like Coinbase have announced layoffs, and a couple others have halted withdrawals. The CEO of Coinbase says he believes we're at the start of a recession; he said he made the decision to cut back because of economic uncertainty. David Gura: This has been a really rude awakening for millions of amateur investors who thought they were buying into the future of finance. He says regulators have to be taking note of this; they have to take note of what's happening in the crypto universe. Source