All articles tagged with #crypto crash
Assets linked to the Trump family in the crypto space have significantly declined, with some tokens dropping over 90%, highlighting the volatility and shifting confidence in digital assets despite initial support from Trump, and resulting in substantial financial losses for retail investors.
Bitcoin has sharply declined below $105,000 amid a broader crypto market sell-off, sparking fears of a prolonged bear market lasting into 2026 with potential lows between $70,000 and $80,000. Analysts warn of extreme volatility and a possible market rebound before 2026, contingent on macroeconomic factors and regulatory developments.
Do Kwon, former CEO of Terraform Labs, pleaded guilty to fraud charges related to the collapse of TerraUSD and Luna cryptocurrencies in 2022, which caused over $40 billion in investor losses. He admitted to making false statements and orchestrating schemes to artificially maintain the stablecoin’s value, leading to a plea deal that limits his potential sentence to 12 years, though he still faces additional charges in South Korea.
Tom Brady, former quarterback for the New England Patriots, is facing the consequences of his involvement with the now-bankrupt cryptocurrency exchange FTX. As an ambassador for FTX, Brady endorsed the company in commercials and appearances, receiving $30 million in FTX stock as part of his endorsement deal. However, FTX collapsed, leaving Brady and his ex-wife, Gisele Bündchen, facing lawsuits from customers seeking compensation. Other celebrities, including Taylor Swift, have also faced legal trouble and reputational damage due to their involvement with cryptocurrency projects. The celebrity crypto boom came to an end with last year's market crash, leading to regulatory scrutiny and lawsuits against those who endorsed digital assets without proper disclosures.
Bitcoin and other cryptocurrencies have slightly decreased in value following OPEC's production cut, but remain near recent highs. Bitcoin is currently trading around $28,350, just shy of its recent peak near $29,500. The reaction of digital assets to the production cut offers important clues as to their next move. Despite the slight dip, Bitcoin has rallied more than 70% so far this year in a bullish turn.