The crypto market cap has plummeted from $4.28 trillion to $3.15 trillion, with Bitcoin struggling to stay above $90,000. Well-known firms like DappRadar have shut down, and Tether is winding down Bitcoin mining operations due to energy costs. Legal actions against crypto companies are on the rise, with accusations of money laundering and user losses.

Coinme, a U.S.-based crypto fintech, is facing charges from the Washington State DFI for unfair practices, including claiming customers’ unredeemed Bitcoin vouchers as company income. Regulators intend to revoke Coinme’s license, bar its CEO for 10 years, and order restitution for affected customers, along with a $300,000 fine. The company has the right to contest the charges at an administrative hearing.

Read more at Yahoo Finance: Popular Bitcoin company faces potential 10-year ban