Why Bitcoin, Ethereum, Dogecoin, and Other Cryptocurrencies Plunged Today
Cryptocurrencies fell on Friday after China furthered its crackdown on the industry. Here's how some of the most popular cryptoassets were performing as of 3:30 p.m. EDT:
Earlier this year, China banned cryptocurrency mining, an energy-intensive process that has drawn criticism from environmentalists for its potential to contribute to climate change. Chinese regulators also forbid the country's financial institutions from providing services to crypto-focused companies.
China's regulatory crackdown created a sea of red in the cryptocurrency markets on Friday. Image source: Getty Images.
Source Fool.com
