Bitcoin and other cryptocurrencies have long been touted as great inflation hedges. However, throughout the majority of this year, USD's purchasing power against BTC has been on the rise.

Chanpeng Zhao, the billionaire founder of cryptocurrency exchange Binance, joked on Tuesday that he was "broke again" after the firm's assets in the bitcoin cryptocurrency fell from $1.6 billion a month ago to just $2,200 this week.

The cryptocurrency market is seeing one of its worst selloffs since a market boom in 2020, causing investors to fear and raising questions about why cryptocurrency values have become increasingly sensitive to stock market gyrations.

Crypto Crash: What's Causing the Global Crypto Market to Collapse? Today's top 10 crypto prices – Today's prices for Bitcoin, Ethereum, Solana, Dogecoin, Shiba Inu, Cardano, and Terral.

Bitcoin fell through a crucial support level over the weekend, hitting a nearly four-month low, its lowest since January, and a year-to-date drop of more than 25%.

The GST Council is expected to consider imposing a 28 percent GST on cryptocurrencies. The government believes that cryptocurrency should be treated similarly to lottery, casinos, racetracks, and betting.

The Wikimedia Foundation (WMF), the organisation behind Wikipedia, has declared that it will no longer accept cryptocurrency donations, as first reported by Web3 Is Going Just Great.

Ether has a market capitalization of $363 billion, which is less than half that of bitcoin, and the two combined account for 60% of the cryptocurrency industry.

Even if Elon Musk, the company's future owner, restored the former president's prohibition, Donald Trump told on Monday that he would not return to Twitter.

The burn took place on BNB Chain on Tuesday at 08:23:05 UTC via the "bnb1ultyhpw2p2ktvr68swz56570lgj2rdsadq3ym2" linked to Binance, according to statistics.

As of March 31, 2022, the non-ether profit's holdings accounted for around 0.3 percent of the total ether supply.

The United States has implicated North Korean hacker group Lazarus for stealing $625 million in cryptocurrencies from Sky Mavis' Ronin Network.