Bitcoin Drops After China’s Crypto Crackdown

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  • Bloomberg Technology published this video item, entitled “Bitcoin Drops After China’s Crypto Crackdown” – below is their description.

    Jun.21 — Bloomberg’s Joe Weisenthal and Ed Ludlow discuss how Bitcoin’s price has dropped to a two week low after Chinese regulators start to crackdown on cryptocurrency activity by ordering banks to stop providing services linked to trading digital currencies. They speak with Emily Chang on “Bloomberg Technology.”

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    Bitcoin is a cryptocurrency invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto and started in 2009 when its implementation was released as open-source software. Bitcoin was the first decentralized cryptocurrency.

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    A cryptocurrency, crypto-currency, or crypto is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of a computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership.

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