Cryptocurrencies are getting sucked into the broader market turbulence, but financial advisers are urging anxious investors not to panic.
Bitcoin briefly fell below $30,000 Wednesday, its lowest level in nearly a year. Shares in Coinbase Global Inc., one of the largest crypto exchanges, slumped to a record low after it warned of slowing trading volume. Even coins pegged to the US dollar are feeling the heat, reigniting a debate over the value of algorithmic stablecoins.
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