...And Crypto Carnage as Bitcoin Plummets 📉
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| | Today's Top Stories 📰 | Learn all about crypto at Alexandria, your new online crypto source! | | | |  | | The past 24 hours have been heavy going for the crypto market. Bitcoin plunged to lows of $45,000 at one point — dragging down altcoins with it. Ether plunged below $1,400 after taking a 20% hit… with Binance Coin, XRP and Bitcoin Cash suffering similar losses. Thankfully, BTC has managed to recover some ground in recent hours. Here's the latest.
| | | | A whale sold $156 million worth of Bitcoin right before prices plummeted, new data shows. According to Santiment, the same address made a similar move before the flash crash last March. It's thought this big transaction might have sparked selling pressure — and that it could have contributed to over $5 billion in BTC futures being liquidated. Find out more here. | | |
| MoneyGram has announced that it is suspending trading on Ripple, in another setback for the embattled company. It comes after the U.S. Securities and Exchange Commission's legal action against Ripple and two of its executives begins. MoneyGram, which specializes in offering remittances, has been attempting to distance itself from the crypto firm. Read more. | | | | | Bitfinex and Tether have reached a settlement with New York's attorney general. The case centered on claims Tether misrepresented the degree to which USDT coins were backed by fiat collateral. As part of the settlement, the companies will pay $18.5 million in damages, report their reserves periodically, and stop servicing customers in the state. Read more here. | | |
| Elon Musk is getting a taste of his own medicine. Over the weekend, the Tesla CEO had tweeted that the price of Bitcoin and Ethereum "seemed high." This may have prompted Tesla's share price to fall on Monday — meaning it's now down 21% from its Jan. 25 high. The sell-offs may also have been fueled by Bitcoin's dramatic decline on Monday. See the full story. | | | |
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