Cryptocurrencies have slid to a two-month low following reports that US regulators had asked cryptocurrency exchanges to provide trading data for a probe into whether possible manipulation was affecting the digital currency’s futures market.
Cryptocurrencies take a major fall in light of US futures investigation
Bitcoin fell as much as 11.5% to as low as $6,627 on Monday, its lowest in two months, according to Reuters data, following the report in the Wall Street Journal. Other major cryptocurrencies also fell with ether, the second-largest digital currency in terms of market cap, off 11.2% while Ripple was down 10.6%, according to CoinMarketCap data.
CME Group, which launched bitcoin futures in December, has asked exchanges – Coinbase, Bitstamp, itBit and Kraken – to share trading data related to the futures contracts, according to the WSJ report. The exchanges provided some data but did not fulfil CME’s request, leading the Commodity Futures Trading Commission to step in and subpoena the exchanges.