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Crypto is crashing. Why?

Crypto is crashing. Why?

After many months of hype, the cryptocurrency market is crashing. Last week, the trading and lending platform Celsius Network paused all withdrawals, citing extreme market conditions. Another trading platform, Coinbase, laid off nearly 20 per cent of its workforce warning of a potential extended "crypto winter." Some $2 trillion in value has been wiped out. Today, how that wipeout has been felt by one cryptocurrency investor. Plus, an explanation of why this crash is happening now, and what could be next, from New York Magazine business and economics reporter Kevin Dugan.

Front Burner · CBC

June 21, 202224m 27s

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Show Notes

After many months of hype, the cryptocurrency market is crashing. Last week, the trading and lending platform Celsius Network paused all withdrawals, citing extreme market conditions. Another trading platform, Coinbase, laid off nearly 20 per cent of its workforce warning of a potential extended "crypto winter." Some $2 trillion in value has been wiped out. Today, how that wipeout has been felt by one cryptocurrency investor. Plus, an explanation of why this crash is happening now, and what could be next, from New York Magazine business and economics reporter Kevin Dugan.
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