Crypto Winter Watch: All The Big Layoffs, Record Withdrawals And Bankruptcies Sparked By The $2 Trillion Crash

Cryptocurrency companies have laid off more than 2,000 workers in less than five weeks. Celsius, a crypto lender, filed for bankruptcy this week and became the latest casualty of a bear market that continues to leave a path of destruction in the digital currency sector. The turmoil has already claimed trillions in market value, billions of dollars in frozen funds and thousands of jobs. It's anyone’s guess whether the current crypto bear market will ultimately rival the years-long crypto winters of 2014 and 2018—the latter wiping 80% from bitcoin”s price while crushing hundreds of then buzzy new tokens. Analysts aren’t so sure that will happen, and this downturn could last up to 12 months unless persistent inflation cools down. Source