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Cryptocurrencies Take a Beating

 1 min read / 

cryptocurrencies bitcoin ether

After trending downwards over the past few weeks, the entire cryptocurrency market has now fallen to just $242bn – substantially less than the $300bn that bitcoin was worth back in early January. However, Cardano co-founder Charles Hoskinson remains bullish and recently tweeted that after the present wave of regulation is ironed out, the road will be paved for Wall Street to pump in potentially trillions of dollars into the market. The SEC recently ruled that ether is not a security at the moment but at one point it was – a paradox that highlights the difficulty in regulating this new asset class. The slump in cryptocurrency prices has likely been prompted by renewed fears over exchange security after a further $40m worth of cryptocurrencies was stolen from a South Korean exchange last week.

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