David Yaffe-Bellany and Erin Griffith
*The New York Times*. 15 Jun 2022, National Edition front page +A13

A global industry worth hundreds of billions of dollars rose up practically
overnight.  Now it is crashing down.

For years [cryptocurrencies] have been marketed as a hedge against inflation
caused by central banks flooding the economy with money.  ...  But now, with
stocks crashing, interest rates soaring and inflation high, cryptocurrency
prices are also collapsing, showing they have become tied to the overall
market.

p.A13 summary fragment:
  Companies are laying off staff and freezing withdrawals.

  [Coinbase layoffs were noted briefly in RISKS-33.28, and extensively
  in this *Times* article.  PGN]

By admin