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Crypto SWOT: bitcoin’s latest plunge highlights danger of a crypto salary

Commentaries & Views


  • Of the cryptocurrencies tracked by CoinMarketCap, the best performer for the week was Prince Floki V2 (PrinceFloki), rising 26,594.31%.

  • Bitcoin gains after consumer price index (CPI) increase renews, further fueling the inflation-hedge argument, writes Bloomberg. The largest cryptocurrency has long been touted as an inflation hedge, in part because of its fixed supply.

  • Nigel Green, the CEO of deVere Group, is confidently buying the recent dip on Bitcoin, writes Value Walk. Green's comments come after Bitcoin slipped around 6% on Thursday, following its inability to hold at the 50K level.


  • Of the cryptocurrencies tracked by CoinMarketCap, the worst performing for the week was GMR Finance (GMR), down 98.01%.

  • Bitcoin resumes its slide after breaking back below the $50,000 level. The largest cryptocurrency by market value declined as much as 3.7% to $48,685 this week. Ethereum, Solana, Cardano and Shiba Inu tokens also fell this week. The Bloomberg Galaxy Crypto Index slumped about 1.8%, writes Bloomberg.

  • Bitcoin and other cryptocurrencies dove this weekend as much as 20% amid a greater risk-off sentiment that also encompassed selloffs in many areas of the U.S stock market. It happened as spiking inflation is forcing central banks to tighten monetary policy, threatening to reduce the liquidity tailwind that lifted a wide range of assets, writes Bloomberg.


  • Coinbase Global Inc launched its first yield product that allows users outside the U.S to earn interest from their holdings in stablecoin through a third-party decentralized finance platform, writes Bloomberg.

  • Binance is seeking to establish an exchange in Indonesia with recent partnerships. Binance has announced it is in talks with Indonesia's PT Bank Central Asia and PT Telkom, according to an article published by Inside Bitcoins.

  • Indian Prime Minister Narendra Modi will take the final decision on cryptocurrency regulation, according to Bitcoin News. A high-level meeting is reportedly being held on cryptocurrency regulation in India. All options are being explored, including full and partial regulation as well as potentially a complete or partial ban.


  • Thieves siphon $196 million of crypto from Bitmart, according to an article published by Bloomberg. The hackers helped themselves to $100 million worth of cryptos on the Ethereum network and $96 million on the Binance Smart Chain, by stealing a private key that gave them access to two of their hot, or active, wallets.

  • Bitcoin's latest plunge highlights the danger of a crypto salary. If you're paid in Bitcoin, then your entire paycheck shrank by more than 20% when the token fell that much on Saturday. That rapid plunge highlights just one peril of a nascent trend that's being hyped up by politicians and celebrities who are currently being paid in digital currencies, writes Bloomberg.

  • Cryptocurrency is the "Top Contender' for correction, money managers say. By many counts, 2021 was the year cryptocurrencies were finally embraced by institutions. Now those same money-managers say the asset class is ripe for a big selloff next year. Digital assets will have a major correction in 2022 with nearly three-quarters of institutions saying they're not an appropriate investment for most retail investors.
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