Bitcoin prices fell below $9,500 and plunged 25% a week

 In the past week, the hot market since the beginning of Bitcoin has not been able to continue, and the price of Bitcoin has fallen in a row. Statistics show that bitcoin prices have fallen by 27.09% in the past seven days.

Non-small market shows that as of 14:00 today, the unit price of Bitcoin was US$1,482, and it fell 11.87% in 24 hours. Compared with the price of 13,000 US dollars in the previous few days, it is a 25% drop.

On June 18th, the Libra white paper, the crypto currency project led by the world’s social media giant Facebook, was officially released. According to the white paper, Libra’s mission is to create a simple, border-less currency and financial infrastructure that serves billions of people. When the news came out, it attracted the attention of all parties.

At 10 am on July 16, the US Senate Banking Committee held a Libra hearing on Facebook’s block chain project at Capitol Hill with the theme “Investigating Facebook’s proposed digital currency and data privacy considerations”, mainly on Libra’s specific Defining and monitoring. The theme also shows how to deal with systemic risks and privacy issues.

Judging from the reaction of yesterday’s hearing, the Senate members have great opinions on Facebook’s problems in privacy protection and dissemination of fake news. At the same time, Libra’s follow-up can effectively prevent anti-money laundering, drug trafficking, and trafficking in the dark. Market analysts said that from the reaction of the hearing, Facebook’s Libra plan was put on hold. Tonight, Facebook will also hold a hearing in the House of Representatives. After the two hearings, the “life and death” of Libra’s plan will be more clear.

Recently, JP Morgan Chase CEO Dimon also said that he did not regard Facebook’s Libra project as a near-term threat. “We will still talk about Libra in three years.” “I won’t spend too much time on it.” Dimon added that any new effort must be in line with the industry’s strict anti-money laundering rules. “We don’t mind the game.” “The requirements are always the same: we want a level playing field. The government will insist that whether it is holding money or transferring funds, it must follow legal rules; no one wants to help and teach terrorism or criminal activity.”

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