Bitcoin

The world's biggest cryptocurrency slid to lows of $20,950 in the early hours of Tuesday — hours after it was officially confirmed that the S&P 500 was in a bear market.

Estimates in recent weeks have suggested that the value of its crypto has dwindled by $40 million — a figure likely exacerbated by the recent acceleration in selloffs.

While CoinMarketCap's data shows there's little to cheer about — with the market cap of all cryptocurrencies now below $1 trillion — Bitcoin did rebound after reaching depths of $20,950.82.

If Bitcoin falls much further, MicroStrategy could face margin calls on its loans — and the company's share price may suffer too.

Bitcoin has wiped all of its gains from the past 18 months — and things might be about to get even worse.

Selloffs were also seen across global markets on Monday — fueled by fears of rampant inflation, imminent interest rate hikes and the prospect of recessions in major economies.

Inevitably, parallels are now being drawn with the sudden and dramatic collapse of Terra — with LUNA and UST racking up double-digit losses in a matter of hours as they began a death spiral.

It's hoped that these classes will "empower the community with knowledge" and remove the hurdles that can surround getting a financial education.

Also today, things are going from bad to worse for Terraform Labs as police scrutiny increases.

Also today, a group of human rights activists have defended Bitcoin and attacked crypto critics in a letter to Congress.

Also today, Jamaica is becoming the next country to roll out a central bank digital currency — but there are downsides.

Rejecting the notion that Bitcoin is a solution "in search of problems," they produced examples of where this digital asset has changed lives for the better.

It's fair to say PayPal has been taking a slow, cautious approach to its crypto rollout — but the bear market doesn't seem to be putting the tech giant off.

Also today, Coinbase's hiring freeze affects people who were just about to join the company — and they aren't happy.

At the time of writing, BTC is trading at $31,576 — up 6% on a 24-hour timeframe, and 3% for the week.

Here's our roundup of all the top stories from day one of CoinMarketCap's The Capital conference.

He described worrying about it as "foolish" — and said, if Jeff Bezos or Mark Zuckerberg had offloaded their stock and tried to time the market over the years, they would not be billionaires.

Mow also said that the real "litmus test" is getting a larger country that isn't suffering economic hardship to embrace Bitcoin as legal tender.