Tag Archives: Price Drop

Justin Sun’s Announcement Has Traders Worried About Huge Price Drop

Despite having more followers than any cryptocurrency CEO, Twitter’s reaction to Sun’s pre-acquisition announcement was skeptical at best. To find out why Justin Sun’s engagement rate doesn’t match up with his follower count, read: Continue reading Justin Sun’s Announcement Has Traders Worried About Huge Price Drop

Bitcoin Price Falls Under $10,000 After Bitfinex, Tether Subpoena

US regulators’ scrutiny into Bitfinex, one of the world’s largest cryptocurrency, over its dollar-pegged digital token Tether has sent bitcoin sinking below $10,000.

Bloomberg is reporting that the US Commodities Futures Trading Commission (CFTC) has sent subpoenas to Bitfinex and Tether, the firm behind a namesake digital token that is directly pegged to the value of a US dollar and is used for widely used for trading among exchanges globally. While Tether says its $2.3 billion in tokens are backed by USD reserves, the CFTC and Tether’s skeptics have questioned that very claim.

Reference: https://www.ccn.com/newsflash-bitcoin-price-falls-10000-bitfinex-tether-subpoena/