The massive downturn in cryptocurrencies in the last month has cause more and more investors to exit the risky markets.
The price of two benchmark stable coins sank below $1, while the price of bitcoin dropped to its lowest level in more than a year.
The massive selloff in cryptocurrencies has wiped out more than $1 trillion of wealth in a month.
During the pandemic, a large number of Americans ventured into the virtual currencies, with 16% of Americans now owning some, up from 1% in 2015, according to a Pew Research Center survey.
Sarah Hammer, managing director of the Stevens Center for Innovation in Finance at the Wharton School, recently went before the regulators and members of Congress in Washington, D.C. to discuss the cryptocurrency crash.
Hammer talks to Penn Today about what people need to know if they are still invested in cryptocurrencies.