Sam Bankman-Fried faces seven criminal charges, including for defrauding investors. His blockbuster trial is set to begin on Tuesday, and he could face an over 100-year prison term if convicted.
Many first-time investors bought Bitcoin and other cryptocurrencies as they neared all-time highs, and crypto companies spent millions on marketing. Today, they are coping with painful losses.
Tesla aggressively embraced Bitcoin in 2021, investing $1.5 billion in the currency. But it now says its profitability was affected by "Bitcoin impairment."
Bitcoin and other cryptocurrencies are plunging. Here's what to know about a market that just a few months ago was being touted as the future of finance.