{"id":514410,"date":"2022-11-22T22:36:45","date_gmt":"2022-11-22T19:36:45","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/cryptocurrency-is-having-a-bad-time-right-now\/"},"modified":"2022-11-22T22:36:45","modified_gmt":"2022-11-22T19:36:45","slug":"cryptocurrency-is-having-a-bad-time-right-now","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/cryptocurrency-is-having-a-bad-time-right-now\/","title":{"rendered":"#Cryptocurrency Is Having a Bad Time Right Now"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a44803d28a59\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a44803d28a59\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/cryptocurrency-is-having-a-bad-time-right-now\/#%E2%80%9CCryptocurrency_Is_Having_a_Bad_Time_Right_Now%E2%80%9D\" >&#8220;Cryptocurrency Is Having a Bad Time Right Now&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CCryptocurrency_Is_Having_a_Bad_Time_Right_Now%E2%80%9D\"><\/span>&#8220;Cryptocurrency Is Having a Bad Time Right Now&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<img loading=\"lazy\" decoding=\"async\" class=\"type:primaryImage alignnone size-full wp-image-850471\" data-pagespeed-no-defer=\"\" src=\"https:\/\/www.howtogeek.com\/wp-content\/uploads\/2022\/11\/Bitcoin.jpg?width=1198&amp;trim=1,1&amp;bg-color=000&amp;pad=1,1\" alt=\"Bitcoin logo\" width=\"1200\" height=\"675\"\/><\/p>\n<p>Cryptocurrency has been heralded by some as the future of digital payments, without the overhead of a central bank or government. However, at least some overhead might be needed, if the past few weeks have been any indication.<\/p>\n<p>The current chain of events started with the collapse of FTX, a company that operated one of the largest cryptocurrency exchanges in the world \u2014 it had\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2022\/09\/07\/gamestop-gme-q2-2022-earnings.html\">a partnership with GameStop<\/a>\u00a0and\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=Ut3m9OK1c7Y\" aria-expanded=\"false\">an advertisement during the last Super Bowl<\/a>. However, after reports came out that <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coindesk.com\/business\/2022\/11\/07\/ftx-ceo-sam-bankman-fried-denies-insolvency-rumors-as-binance-liquidates-ftt-token\/\">the company was missing billions of dollars<\/a>, it declared bankruptcy. The new CEO in charge of restructuring FTX <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2022\/11\/17\/ftx-filing-reveals-slipshod-accounting-freewheeling-expenses-perks.html\">called it<\/a> \u201ca complete failure of corporate controls.\u201d<\/p>\n<p>Much like the non-crypto financial system, other cryptocurrency exchanges and lending companies are invested in each other, so the collapse of FTX has led to other problems. The Huobi exchange told shareholders that <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/web3isgoinggreat.com\/?id=huobi-exchange-announces-18-1-million-is-locked-on-ftx-mostly-customer-funds\">it had $18.1 in crypto assets<\/a> tied up in FTX. Multiple crypto exchanges have stopped customer withdraws because they do not have the money, including <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coindesk.com\/business\/2022\/11\/16\/genesis-crypto-lending-unit-is-halting-customer-withdrawals-in-wake-of-ftx-collapse\/\">Genesis<\/a>, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/redirect.viglink.com\/?key=204a528a336ede4177fff0d84a044482&amp;u=https%3A%2F%2Fwww.sheppnews.com.au%2Faap-finance%2Faust-crypto-exchange-suspends-withdrawals%2F&amp;cuid=xid:{xid}&amp;___trxnet=vg\">Digital Surge<\/a>, and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/web3isgoinggreat.com\/?id=coinhouse-suspends-savings-accounts-due-to-genesis-suspension-due-to-ftx-collapse\">Coinhouse<\/a>. <em>Bloomberg<\/em> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-21\/crypto-firm-genesis-warns-of-possible-bankruptcy-without-funding\">reports<\/a> that Genesis, another major exchange, may go into bankruptcy.<\/p>\n<p>The collapse has understandably eroded more people\u2019s confidence in cryptocurrency as a whole \u2014 crypto or not, if you put your money somewhere and can\u2019t retrieve it later, that\u2019s a big problem. Bitcoin has <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/redirect.viglink.com\/?key=204a528a336ede4177fff0d84a044482&amp;u=https%3A%2F%2Fwww.coinbase.com%2Fprice%2Fbitcoin&amp;cuid=xid:{xid}&amp;___trxnet=vg\">lost 16.2% of its value over the past month<\/a>, and 71.43% in the last year.\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/redirect.viglink.com\/?key=204a528a336ede4177fff0d84a044482&amp;u=https%3A%2F%2Fwww.coinbase.com%2Fprice%2Fethereum&amp;cuid=xid:{xid}&amp;___trxnet=vg\">Ethereum\u2019s value has decreased by 9.5%<\/a> in the past week.<\/p>\n<p>If you\u2019re determined to stay in the crypto ecosystem, it might be a good idea to transfer (at least some of) your funds to a hardware wallet, where it can\u2019t be used as a slush fund by an exchange. Your crypto will probably continue declining in value, though.<\/p>\n<\/div>\n<p><script>\n setTimeout(function(){\n  !function(f,b,e,v,n,t,s)\n  {if(f.fbq)return;n=f.fbq=function(){n.callMethod?\n  n.callMethod.apply(n,arguments):n.queue.push(arguments)};\n  if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';\n  n.queue=[];t=b.createElement(e);t.async=!0;\n  t.src=v;s=b.getElementsByTagName(e)[0];\n  s.parentNode.insertBefore(t,s) } (window, document,'script',\n  'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\n   fbq('init', '335401813750447');\n   fbq('track', 'PageView');\n  },3000);\n<\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more like this article, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/technology\/\" target=\"_blank\" rel=\"noopener\">Technology category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/www.howtogeek.com\/850462\/cryptocurrency-is-having-a-bad-time-right-now\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Cryptocurrency Is Having a Bad Time Right Now&#8221; Cryptocurrency has been heralded by some as the future of digital payments, without the overhead of a central bank or government. However, at least some overhead might be needed, if the past few weeks have been any indication. The current chain of events started with the collapse&#8230;<\/p>\n","protected":false},"author":1,"featured_media":514411,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/www.howtogeek.com\/wp-content\/uploads\/2022\/11\/Bitcoin.jpg?height=200p&trim=2,2,2,2","fifu_image_alt":"","footnotes":""},"categories":[18],"tags":[],"class_list":["post-514410","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/514410","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=514410"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/514410\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/514411"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=514410"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=514410"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=514410"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}