LONDON: Bitcoin dipped almost 8%, extending losses the day after US Federal Reserve chairman Jerome Powell called for a halt to Facebook’s Libra cryptocurrency project until concerns ranging from privacy to money-laundering were addressed.
The original cryptocurrency initially fell 7.7% to US$11,164 in early morning trade yesterday, following a 3.8% slide on Wednesday after Powell’s testimony on monetary policy before the US House of Representatives Financial Services Committee. It was last down 4.5%.
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