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The Times of India
The Times of India
Business
Bloomberg

Bitcoin sinks to two-week low as Silvergate fallout hurts crypto

Silvergate Bitcoin Crypto TER United States New York FTX

NEW YORK: Bitcoin dropped to the lowest level in about two weeks, part of a wider retreat in crypto markets as investors digested the unraveling of a key industry payments network.

The largest token by market value sank as much as 6% before paring some of the slide to trade 4.6% lower at $22,347 as of 6:30am Friday in New York. Smaller coins such as Ether, Avalanche and the meme token Dogecoin also suffered declines.

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