Bitcoin tumbles as U.S. senators grill Facebook on crypto plans

Credit: Reuters- Published on July 16, 2019
The cryptocurrency market took a beating on Tuesday with bitcoin losing over 10% in value after U.S. lawmakers grilled Facebook on its cryptocurrency plans, as political and regulatory scrutiny of digital coins intensifies.

Credit: Wochit News
Published on July 17, 2019 -  00:32
Bitcoin Tumbles
Bitcoin has plunged 16% after a bruising day in Congress for Facebook's digital coin, Libra. "Facebook has burned down the house over and over and called every arson a learning experience," Sen. Sherrod Brown said. Brown's comments follow criticism of Libra from the Treasury Secretary, the President Donald Trump, and the Fed Chair. There has also bee criticism from the head of the House Financial Services Committee, Rep. Maxine Waters.

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