Crypto Gets Hammered by Selloff

The video discusses the impact of monetary tightening and tech stock correlations on the crypto market. It highlights a crisis in the crypto sector, exacerbated by Celsius's withdrawal pause, leading to significant declines in major cryptocurrencies like Bitcoin and Ether. The downturn has resulted in job cuts across the industry, with companies like BlockFi and Gemini affected. Stocks tied to crypto, such as MicroStrategy, have also suffered major losses due to the market conditions.

What are some of the companies that announced job cuts in the crypto sector?

What was the paper loss for MicroStrategy's holding of Bitcoin?