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Yellen testified on Capitol Hill on Thursday as TerraUSD recovered some ground but at $0.33 was still below its $1 peg.

Even Larry David jumped on the crypto bandwagon with an ad for crypto-exchange platform FTX that aired during the Super Bowl.

While cryptocurrencies are experiencing the worst of the meltdown, a variety of companies are no longer riding as high as they were a few months ago.

With more than 19,000 cryptocurrencies in existence and counting, there are more than triple the number of crypto coins than there are US stocks.

For a market that is solely reliant on the dynamics of supply and demand, it's crucial that the crypto scene quickly cleans up its act.

Crypto entrepreneur Do Kwon's TerraUSD and luna tokens are crumbling, despite his insistence that critics were merely jealous of his wealth.

Interactive Investors said 45% of young adults made crypto their first investment, with many using credit cards and loans for the purchases.

"I am optimistic that [Terra's] fall would not be that catastrophic — a collapse of [Tether] would be though," GlobalBlock said.

Producer Price Index data released on Thursday showed wholesale prices jumped 0.5% in April and 11% year-over-year.

The purchase of more than half a million Coinbase shares comes after the cryptocurrency exchange platform's stock tanked after weak Q1 results.

The free fall in the global cryptocurrency market continued on Thursday as over $275 billion were wiped off from its global market cap within 24 hours and Bitcoin dropped to nearly $27,000 - a level it saw in December 2020. The global cryptocurrency market cap reached the $1.25 trillion mark, down 13 per cent in the last 24 hours. Bitcoin accounts for about a third of the cryptocurrency market.

Bitcoin lost 12%, falling to its lowest since December 2020 and effectively wiping out all of last year's gains.

Tether — which is supposed to be worth $1 — suffered its biggest drop in over a year as it dropped as low as $0.945.

The TerraUSD algorithmic stablecoin dropped to as low as $0.67 in a sell-off that was sparked over the weekend.

CEO Michael Saylor has said he doesn't plan to ever sell MicroStrategy's stash of bitcoin. But he may not have a choice if its price keeps falling.

Terra's algorithmic stablecoin UST appears to have entered a death spiral. Here's a guide to the largest stablecoins and the issues in the ecosystem.

The exchange reported a net loss of $420 million in the first quarter, in which its CEO attributed "weaker crypto market conditions" as a factor.

The crash in supposed stablecoin TerraUSD has caused dismay in cryptocurrency markets, and comes during a brutal period for digital assets.

P2P crypto trading allows users to buy and sell crypto without relying on intermediaries.Platforms like KuCoin provide P2P crypto trading services.P2P trades usually involve lower fees than regular crypto exchanges.

Coinbase started offering trading operations in India on April 7 but withdrew the same by April 10. Armstrong also said that Coinbase plans to work with the government to relaunch here. Coinbase has invested in Indian crypto exchanges, CoinDCX and CoinSwitch Kuber.

According to President Nayib Bukele, the purchase was made at an average price of $30,744 per bitcoin — or about $15.5 million total.

Bitcoin dropped below $30,000 for the first time in almost a year, as investor risk appetite continued to erode.