China’s renewed crypto crackdown wipes nearly $300 billion off the market as bitcoin slides

Key Points

  • China’s renewed crackdown on the cryptocurrency industry has wiped off nearly $300 billion in value off of the total digital currency market since Friday.
  • Bitcoin, ether, XRP and other digital coins fell sharply.
  • On Friday, authorities in China’s Sichuan province, ordered cryptocurrency miners to shut down their operations.
  • The People’s Bank of China urged financial institutions not to provide services related to cryptocurrency activities.


China crypto crackdown wipes nearly $300 billion off market, BTC slides