Crypto Market Braces for $540 Billion Crisis Amid Economic Uncertainty and Central Bank Digital Asset Adoption.

Charles Hoskinson, co-founder of Ethereum and creator of Cardano, has warned that the current banking crisis could be worse than the 2008 global financial crisis that led to the creation of Bitcoin. Hoskinson stated that the crisis could be worth over $540 billion and that the business model is falling apart. The crisis has been partly triggered by the Federal Reserve's rapid series of interest rate hikes over the last year, with rates this week climbing to levels not seen since before 2008 in an attempt to rein in soaring inflation.