Three major cryptocurrency companies almost simultaneously announced the mass layoff of their staff by up to 30%. The three begetters are Galaxy Digital, BitMEX, and Digital Currency Group. What’s actually going on and if one may still call it a coincidence – let’s observe.

U.S. State authorities strive to oversee the crypto industry. September 16 was marked with an issue of a first-ever comprehensive framework for the responsible development of digital assets in the USA. What are the document’s highlights and why might it be far-reaching for the dynamics of the crypto economy?

The ongoing crypto winter, which has wiped out almost $2 trillion in value from the market, has affected blockchain companies across the globe. This has resulted in nearly 5,000 people losing their jobs in recent months.

Voyager Digital, a crypto broker with somewhere between $1 billion and $10 billion in assets, filed for bankruptcy in July. The company has now received court approval to return hundreds of millions of dollars to affected clients. 

The global crypto market is now flashing green again, with Bitcoin and Ethereum showing significant gains. This rebound has made the global cryptocurrency market cap back above the $1 trillion mark after the latest collapse.

Us Democratic Senator Elizabeth Warren has called on Congress and the Securities & Exchange Commission (SEC) to tighten regulations on the crypto industry and protect customers from scams. She thinks that authorities have to act more aggressively, especially after the bankruptcies of several firms have resulted in people losing their investments.