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RE: Market Update: China Made ICOs Illegal, Bitcoin Declining, Crypto Market Dwindles

in #bitcoin7 years ago

Yeah... China's been a currency manipulator for quite some time, and I guess they thought it was about time they disrupted the crypto market. Unfortunately their move had dire consequences for crypto holders, investors, issuers, ICOs, and basically all people involved in crypto; currently all of the top 50 cryptos took a hit (loss over 24h) except for USDT (which is, by definition, pegged to be $1). I think the "refund" portion of the statement will be screwing a bunch of ICOs over.