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Asharq Al-Awsat
Asharq Al-Awsat
Technology
Asharq Al-Awsat

Bitcoin Plunges as Major Crypto Lender Halts Operations

An advertisement of Bitcoin, one of the cryptocurrencies, is displayed on a building in Hong Kong, on Nov. 18, 2021. (AP)

Bitcoin and other cryptocurrencies were collapsing in price Monday, after a major crypto lender halted all withdrawals citing "extreme market conditions."

It is the second collapse of a part of the cryptocurrency world in the last two months. The stablecoin Terra imploded in early May, erasing tens of billions of dollars in a matter of hours.

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