Cryptocurrency

Ripple drops 4% as Bitcoin falls below $10,000 for second time in July

2019-07-16 21:09:44 GMT (Economies.com)

Most of the cryptocurrencies - led by Bitcoin and Ripple - have fallen in the course of today's trading, influenced by the continued concerns and criticism surrounding the upcoming cryptocurrency, Libra, which Facebook plans to launch next year.

 

In his testimony before the US Congress, David Marcus the director of the digital portfolio in Facebook, Calibra, said that the company will take into account the concerns of regulators on "Libra."

 

However, members of Congress expressed concerns about the "Libra" and its misuse in illegal activities such as terrorism financing and money laundering.

 

The comments come after criticism by US President Donald Trump, Federal Reserve Chairman Jerome Powell and Bank of England President Mark Carney of the Facebook upcoming cryptocurrency Libra.

 

In terms of trade, by 20:56 GMT, Ripple fell by 4% to $0.30, with the highest at $0.32 and the lowest at $0.28.

 

Bitcoin fell by 11.2% to $11,609, with the highest at $11124.1 and the lowest at $9489.9.

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