The Financial Stability Board and the International Monetary Fund are preparing to release a document urging worldwide cooperation on cryptocurrency policies during the upcoming G20 summit scheduled for this weekend.
The report noted that the news of SpaceX, led by Elon Musk, writing off a portion of its Bitcoin holdings in the previous quarter, played an added role in fueling the correction within the cryptocurrency markets in August.
The authorization establishes Coinbase as the pioneering crypto-centric platform to provide regulated and leveraged cryptocurrency futures in conjunction with conventional spot trading.
On the other hand, as countries around the world continue to create laws about crypto assets, the whole crypto market continues to bleed. Specifically, the market capitalization of the whole crypto industry has kept declining to almost -3% in the past 24-hours.
The crypto selloff can be attributed to several factors. COVID-19'S spreading Delta variant has shaken many investors’ confidence in a global economic recovery. As a result, some are pulling out of speculative investments, impacting the crypto sector. A strengthening dollar may also be behind the crypto crash.
What affects the price?
Why Is Crypto Crashing Right Now? Cryptocurrency prices have been falling since November, and now investors are starting to sell off, which leads to further price drops.
Coinbase went public with a highly anticipated listing in 2021, but as the crypto market crashed, the company's share price ...
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