Bitcoin has dropped below US$19,000 for the first time since December 2020 as the crypto market wrapped up Q2 with further downturns as of Friday morning in Asia.
Fast facts
The world’s largest cryptocurrency hit a low of US$18,729 and was trading at US$20,352 at press time, according to CoinMarketCap.
The crypto market and Bitcoin have lost around 57% throughout Q2 with a market cap of US$881 billion early morning Friday.
Crypto hedge fund Three Arrows Capital (3AC) has reportedly been reprimanded by the Singapore central bank for misleading officials.
3AC was reportedly ordered by a British Virgin Islands court to liquidate, according to media reports on Wednesday.
The European Systemic Risk Board deemed crypto assets a threat to the financial system on Thursday and called for additional regulation to address the issue as a “matter of urgency
