Rental Coins, a collapsed Brazilian crypto company, has filed for Chapter 15 bankruptcy in the U.S. to help it recover assets, Bloomberg Law recently reported. Chapter 15 is designed for cross-border insolvency cases, allowing foreign companies undergoing bankruptcy proceedings abroad to protect their U.S.-based assets.

The cryptocurrency market extended a more than a month-long retreat in Thursday trading, just as stocks surrendered the gains they had logged earlier in the day.

After strong growth throughout much of the spring and summer, the world’s most popular cryptocurrency is now roughly flat for 2025.

The crypto market crash continued its strong downtrend on Friday, with Bitcoin tumbling to $85,000. Ethereum plunged by 7.65%

Bitcoin, the world’s largest cryptocurrency, was back below $90,000 on Wednesday — a level last seen in the wake of President Trump’s April 2 “liberation day” tariffs that pummeled stocks and riskier corners of financial markets.

The decline followed the release of stronger-than-expected US jobs data. The economy added 1,19,000 jobs in September, significantly higher than the 50,000 forecast by economists polled by Dow Jones.

Bitcoin dropped deeper into a bear market as investors fret over liquidity, Fed rate cuts, and a broader tech sell-off that's crushed risk appetite.

The total crypto market cap slipped below $3 trillion on Nov. 20 as the digital assets market continued to reel. As per onchain analytics firm CoinGlass, more than 215,000 crypto traders have been liquidated and over $820 million has been wiped out from the market.