China has decided ICOs are illegal under domestic law, so the market has freaked out accordingly.
https://www.coindesk.com/china-outlaws-icos-financial-regulators-order-halt-token-trading/
Two of the big coins hit are OMG and NEO.
Updates from the heads of those entities:
OMG
NEO
I'm waiting to see how things shake out. We know the cryptosphere has a knee-jerk reaction to always panic first, ask questions later (after they realize they hurt themselves by selling.)
So basically, this is China's attempt to maintain the status quo.
I smell a revolt. There is no stopping the crypto train :)
Agreed. I just see it as a big sale on my favorite coins.
Basically every coin is in free fall at the moment...
The usual response. It's a fire sale!