It’s hot outside in New York City, but there’s a crypto winter in the markets – and it’s likely to get worse before it gets better, industry players tell On The Money. To be sure, we’ve seen this before: 2018, 2020, then in 2022, when a confluence of factors including the FTX scandal that landed Sam Bankman-Fried in jail sent digital currencies down more than 70%. We’re suffering through a similar slump now, with about 54% of the total crypto market value being eliminated since prices hit their peak in October 2025, when the most popular coin, Bitcoin, hit its high of $126,000. It’s currently hovering around $60,000. ... (full story)