Crypto Assets Lose $800B in Value Over Month

Crypto assets have lost almost $800 billion in market value in the past month, a report said.

The crypto assets have touched a new low of $1.4 trillion as of Tuesday, according to data from CoinMarketCap.

The decline in digital asset prices comes alongside a fall in equities as fears of aggressive interest rate hikes continue.

Bitcoin makes up around 40% of the crypto market, but the coin hit a 10-month low on Tuesday. It dropped below $30,000 before rebounding to $31,450, six days after it had been at $40,000.

Meanwhile, Chile’s central bank digital currency (CBDC) will have to accept offline payments, according to the central bank Governor Rosanna Costa, Coindesk reported Tuesday (May 10).

Costa has said there will be a policy paper on the topic — though no final decision has been made on whether a CBDC will be issued.

According to Costa, the CBDC should “operate both online and offline,” and she said it wasn’t “necessarily efficient today.”

A survey by the Bank of International Settlements (BIS) has found that 9 out of 10 central banks have been looking into issuing their own virtual assets.

In other news, a new U.K. bill would increase the strength of the…

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