Crypto Bloodbath as Bitcoin Hits $68.8K

Decrypt1 day ago1:13:13

Crypto Bloodbath as Bitcoin Hits $68.8K - Nvidia Fallout, NYSE's Avalanche Deal and Elysium Goes Live On today's FOMO Hour, hosts Farokh and TylerD are joined by Ava Labs chief business officer John Nahas and Kinetiq co-founder Omnia. Bitcoin fell 3.5% to $68,800, its 200-week average, while Ethereum dropped to about $1,940, Solana slipped toward $80 and Nvidia extended its slide. The hosts cover $48 million in Bitcoin ETF outflows, $1.6 billion in liquidations, OpenAI's ChatGPT wallet, a Justice Department move to seize $1.2 billion from the Binance hack, and Binance's replenished reserves. Nahas explains that NYSE is building a 24/7 platform for trading, clearing and settling tokenized equities, with Avalanche as its core ledger. Omnia says Elysium, Kinetiq's Layer 2 for Hyperliquid, went live on mainnet this week and will add features in four to six weeks that let apps read Hyperliquid prices on-chain.

Trading stocks, CFDs, spread betting, futures, and options involves a high level of risk and may not be suitable for all investors. Prices can move rapidly, and losses can occur quickly and exceed your expectations.