Bitcoin Plunges More Than $1K in Less Than an Hour: SEC Suspends Trading for One Co
The Securities and Exchange Commission has suspended trading of The Crypto Company until January 3, citing "concerns regarding the accuracy and adequacy of information" about compensation paid to promote the firm and plans for insider sales. In other words, the SEC fears manipulation could transpire.
The company describes itself as one that "offers a portfolio of digital assets, technologies, and consulting services to the blockchain and cryptocurrency markets" with plans for a "rollout of a full scale, high frequency cryptocurrency trading floor."
Bitcoin Takes $1000 Plunge – Due in part to the SEC action against The Crypto Company, the digital currency fell from $17,929 to a low of $16,912 between 3:30 and 4:30 p.m. ET on Tuesday, demonstrating just how unstable Bitcoin continues to be at this time.
Bitcoin's rival offshoot, bitcoin cash, surged for a second day, up 24.5 percent to a record high of $2,735.58, according to CoinMarketCap.
- Aaron Goldstein, Gambling911.com
