The cryptocurrency market crash saw a total market cap drop to $3.13 trillion, with Bitcoin falling below $87,000. Over $370 million in BTC positions were liquidated in the last 24 hours, totaling over $900 million. Long-term whales and retail traders lost their entire holdings.

Decentralized application platform DappRadar has decided to wind down due to financial unsustainability. Another crypto company, Rental Coins, has filed for Chapter 15 bankruptcy in the U.S. to recover assets lost in a pyramid-style fraud scheme. A former manager is already serving a prison sentence for involvement in the fraud.

Rental Coins aims to trace crypto transactions and protect remaining assets under Chapter 15 bankruptcy. The company operated an investment program accused of fraudulent activities and mismanagement of customer funds in Brazil. Filing in a U.S. court will enable an orderly restructuring under court supervision for asset protection.

Read more at Yahoo Finance: Popular crypto company files for Chapter 15 bankruptcy as Bitcoin crashes