Sorry for crypto investors as the market crushes.
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The losses are massive. Elon Musk has been a promoter of $Doge Coin which has lost 86%.
My opinion has always been, crypto are just hot air. They’ll raise and burst and have no actual value.
it will eventually stabilize.
Coinbase spooked customers with an admission that their crypto holdings could be at risk if the company goes bankrupt – a warning that surfaced alongside a dismal earnings report that crushed the cryptocurrency hub’s stock on Wednesday.
Shares plunged more than 27% Wednesday after Coinbase detailed the risk for the first time in an SEC filing – prompting a panicked response that led the company’s boss to address the situation on Twitter.
“Because custodially held crypto assets may be considered to be the property of a bankruptcy estate, in the event of a bankruptcy, the crypto assets we hold in custody on behalf of our customers could be subject to bankruptcy proceedings and such customers could be treated as our general unsecured creditors,” the filing said.
As “unsecured creditors,” Coinbase customers would be left without recourse to recover their cryptocurrency or equivalent cash balances if the company went bankrupt.rupt.[ATTACH=full]438260[/ATTACH]
Watu wa crypto waelekee chooni kumwaga machozi…
Mtalijua jiji :D:D:D
Most people miss the point. There is good money to be made in crypto. However, you make the money by trading, not investing. Crypto is extremely volatile. It is a trader’s dream. Unfortunately for most people, trading is a skill that takes years to acquire. That’s why 99% get burned because they lose their money to the professionals in the long run. However, they still play the game for the same reason people gamble in casinos. In the short run, a person with no trading skills can make a kill out of pure luck and that is what attracts retail participants.