Crypto Moves – Bitcoin tumbles as crypto sell-off accelerates; crypto exchanges lay off staff

RIYADH: Bitcoin tumbled on Wednesday to a new 18-month low, dragging smaller tokens down with it and spurring a sharp fall in crypto markets sparked by crypto lender Celsius freezing customer withdrawals.

The world’s largest cryptocurrency fell as much as 7.8 percent to $20,289, its lowest since December 2020. It has lost around 28 percent since Friday and more than half of its value this year.