As crypto selloff accelerates, how a lot worse can issues get? – TechCrunch

Picture Credit: TechCrunch

The crypto markets buckled this week as fears of cascading failures of key blockchain finance gamers confirmed simply how fragile issues are for the asset class, which dipped beneath a $1 trillion complete market cap as Bitcoin and Ethereum led a plunge in token costs.

There was lots for us to speak about this week’s episode of the Chain Response podcast, the place we unpack and clarify the most recent crypto information, drama and traits, breaking it down block by block for the crypto curious.

Alongside the most recent taste of crashing crypto costs, we talked about among the existential threat forward and the way blockchain bulls or rising more and more bearish as broad financial uncertainty factors to a recession-sized winter which might drag tokens to surprising lows and kill off even the most-prepared startups. The downturn isn’t coming at a good time as regulators begin to take extra pronounced purpose on the crypto trade, launching investigations, lawsuits and laws.

We spent a little bit time diving into among the week’s much less gloomy information, together with Jack Dorsey’s newly introduced “web5” efforts.

Our visitor: Field CEO Aaron Levie

The visitor on our present this week was a prolific web3 critic who simply occurs to additionally run a really profitable tech enterprise. We chatted with Field CEO Aaron Levie who hasn’t been secretive of his web3 skepticism. On this week’s episode, we obtained him to put out a few of his critiques whereas highlighting the place he does see promise in crypto’s mannequin for a extra decentralized net.

Chain Response podcast episodes come out each Thursday at 12:00 p.m. PDT. Subscribe to us on Apple, Spotify or your different podcast platform of option to sustain with us each week.

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