Bitcoin tumbled, stablecoins were anything but stable and one of the crypto industry's highest-profile companies lost a third of its market value. Here's a look at some major developments in cryptocurrencies this week.
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The government of El Salvador on Monday rejected a recommendation by the International Monetary Fund to drop Bitcoin as legal tender in the Central American country.
Bitcoin has lost almost half its value since its November high, with cryptocurrency prices continuing to plunge as major economies look to curb their growing popularity.
Cryptocurrencies have had a dismal start to the year, and continue to plunge as major economies around the world look to curb their growing popularity.
The global computing power of the bitcoin network has dropped sharply as the shutdown this week of Kazakhstan's internet during a deadly uprising hit the country's fast-growing cryptocurrency mining industry.
Craig Wright, a computer scientist who claims to be the inventor of Bitcoin, prevailed in a civil trial verdict Monday against the family of a deceased business partner that claimed it was owed half of a cryptocurrency fortune worth tens of billions.
El Salvador plans to build the world's first 'Bitcoin City', funded initially by bitcoin-backed bonds, President Nayib Bukele said on Saturday, doubling down on his bet to harness the crypto currency to fuel investment in the Central American country.
Bitcoin, the world's biggest and best-known cryptocurrency, slipped below US$60,000 on Tuesday, taking losses from a record high of US$69,000 struck on Nov. 10 to more than 12 per cent.
