Collapses of so-called stablecoins, digital tokens that track the price of the US dollar, have raised fears about the overall cryptocurrency market

The TerraUSD stablecoin crash has prompted some analysts to warn of a long ‘’crypto winter’’ of sustained price falls. Others say it's only a temporary setback

Binance founder Changpeng Zhao – or CZ – is said to have lost $87bn of his personal wealth in around...

Binance founder Changpeng Zhao – or CZ – is said to have lost $87bn of his personal wealth in around 130 days

The LKB & Partners law firm filed a lawsuit against Terraform Labs co-founders Do Kwon and Daniel Shin, the Seoul-based Munwha Ilbo newspaper reported

Do Kwon, the young Korean who created the Luna token, built a huge house of cards thanks to millions ploughed in by investment firms, despite the coin's very unstable foundations

Prudential investment unit PGIM said crypto is an unreliable portfolio diversifier and an inadequate safe-haven asset or inflation hedge

Citing risks to financial stability from the rising number of crypto transactions, central bank officials said last year they did not see room for cryptocurrency

Commentator Li Hualin said the ban helped to “extinguish the ‘virtual fire’ of virtual currency speculation"

Stablecoins are meant to offer a reliable investment option, unlike unpegged cryptocurrencies like bitcoin or ether, which are very volatile

While the US accounts for more than a third of all bitcoin mining - as measured by power consumption - China has taken the second spot, with 21.11% of the total

China has been working on a service network that enables the deployment of blockchain technology for businesses, notably those operating cloud computing infrastructure, the report says