Bitcoin suffers flash crash following week of crypto hype


Bitcoin has skyrocketed in value this year as it gained more mainstream acceptance, but the sharp price fall this weekend seems to have been triggered by an unconfirmed Twitter rumor that the US Treasury was planning to crack down on money laundering schemes involving cryptocurrencies. The agency did not immediately respond to a request for comment on Sunday.

Bitcoin’s rapid overnight plunge is the latest indicator that the crypto market remains wildly volatile.

Last week crypto enthusiasm seemed to reach a peak as trading platform Coinbase went public at a valuation of $86 billion,…

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