Bitcoin price plummets amid major DOJ crypto announcement

 (Independent)
(Independent)

The price of bitcoin has fallen by 5 per cent in the space of an hour after the US Department of Justice announced plans to introduce major international cryptocurrency enforcement action.

The world’s leading crypto dropped from $21,500 to around $20,500, reversing an upward trend that had seen its price rise by nearly a third since the start of the year.

Deputy Attorney General Lisa Monaco will lead the press conference announcing the action, which begins at midday local time (5pm GMT) on Wednesday.

The announcement comes at a time when Sam Bankman-Fried, the former boss of the collapsed crypto exchange FTX, faces charges of wire fraud, securities fraud and conspiracy.

More to follow