Crypto Companies Plummet As Bitcoin Soars (Video) - Forbes

In today’s episode we continue to see the lasting impacts of the crypto winter with Coinbase halting its affiliate marketing to Gemini continuing job cuts. Meanwhile, the cryptocurrency market is looking up.

The overall crypto market capitalization is back in the $1 trillion dollar range. Bitcoin is at $23,216 a 4.63% increase over the last day. This is the highest the grandfather of cryptocurrency has been since mid-June. Ethereum is also surging as its currently $1,566 which is up 4.83% on a daily scale.

In the world of crypto we discuss:

• Coinbase “temporarily shutting down” It’s U.S. affiliate marketing program
• Celsius owes more than $5 billion to creditors
• Executive branch employees must report owning NFTs worth more than $1,000
• Genesis files a $1.2 billion claim against Three Arrows Capital
• Gemini makes a second round of layoff
• Dubai’s Crown Prince announces a strategy to expand its region into the virtual metaverse

We also speak to Javier Paz, the director of data and analytics for Forbes Digital Assets, about the recent “short squeeze” trend amongst the tokens of fallen crypto companies.