The IMF insists that stringent laws and heightened monitoring of the digital asset market are crucial to prevent the recurrence of the implosions that rocked the global financial ecosystem in 2022.
The 'crypto contagion' plaguing the digital asset industry has been contained for now after the government stepped in, but it won't likely be too long before the global sector feels its full impact.
The defunct digital asset lender will only reopen withdrawals for Wallet Accounts, and just as with Celsius, users with interest-earning accounts won’t benefit.
Despite the filing, Core Scientific expects to continue operating normally, won’t liquidate assets and has entered into restructuring support agreement with creditors.
Bybit CEO Ben Zhou announced on Twitter that the exchange would lay off workers across the board, blaming the “deepening bear market” for the exchange’s woes.
For Bryan Daugherty, regardless of who will dominate the midterm polls, the Congress and the Senate will likely push regulators to be more involved and focused on the digital asset industry.
FTX's implosion could result in three things: prolonged 'crypto' contagion, enforcement of stiff asset class regulations, and weakened industry confidence.
