Bitcoin tumbles almost 30 percent in volatile trading

Our employee trading policy at Coinbase – The Coinbase Blog

One of the largest bitcoin exchanges and wallets, Coinbase Inc., has suspended trading in the wake of an nearly 35 percent drop in market value for the digital currency in the past 24 hours or so.

Bitcoin plunged at the end of a rocky week, taking the digital currency below $12,000 and down more than 40 percent from its record high hit Sunday. But an afternoon selloff accelerated into the night, and bitcoin dropped more than 30% Friday morning to $10,770 on the exchange.

Earlier this month, the cryptocurrency joined the financial world's mainstream when Chicago-based CME Group and the Chicago Board Options Exchange began trading bitcoin futures, contracts that allow people to buy and sell assets at a predetermined price at some point in the future.

In the last several days, many Reddit and Twitter users have also complained they are unable to complete transactions smoothly on Coinbase.

Update, 1:44 p.m., according to Coinbase buys and sells have been re-enabled. So, what can happen, analysts say, is that we can see Bitcoin trading again at around $20,000 very soon.




It has been an interesting few weeks for Coinbase.

Coinbase has launched an internal probe to identify whether its employees engaged in insider trading of Bitcoin Cash shortly before the cryptocurrency was officially introduced to the exchange yesterday.

- Bitcoin Cash (BCH) offers cheaper fees and faster transaction times, adding to the coin's allure. The company said in a blog post it disabled trading because of "significant volatility". "Given the price increase in the hours leading up the announcement, we will be conducting an investigation into this matter".

Armstrong warned, "If we find evidence of any employee or contractor violating our policies - directly or indirectly - I will not hesitate to terminate the employee immediately and take appropriate legal action".

Related news:

Hot News

isis-killer-beheading-video-story-top Princess Michael 'very sorry' for wearing 'racist' brooch to Queen's Christmas lunch
Dec 23, 2017 - 01:38
Meghan Markle's couture gown may be worth an eye-watering £56,000, but her frugal fans have already found a cut-price alternative. Unfortunately, it's a secret and I cannot give more details about the design, "said a spokesman for the fashion house".

isis-killer-beheading-video-story-top OH family gives unique gift to child's teachers
Dec 23, 2017 - 01:17
Parents of one student in OH think they have the flawless gift for the teachers who spend hours with their child every day. Sommers wrote that his parents get his brother's teachers a gift every year but it's usually just a small candle or flower.

isis-killer-beheading-video-story-top Good Samaritan drops gold leaf coin worth $1200 in Red Kettle
Dec 23, 2017 - 01:14
Bells are still ringing at local malls and shops as Salvation Army volunteers struggle to get attention for their red kettles. This year, together we collected more than 216,000 cans (and still counting!) at our locations.

isis-killer-beheading-video-story-top European Union court decision on Uber 'a social victory': plaintiffs
Dec 22, 2017 - 01:29
The ruling comes on the same day as Uber returns to court to outline an appeal against its London licence. Even so, the tech giant has long maintained that they're not, in fact, a transportation company.

isis-killer-beheading-video-story-top Princess Charlotte's nursery revealed along with new Royal Family photo
Dec 22, 2017 - 01:28
Hugo Burnand took the picture of the couple at the party held at the Highgrove estate a few days before Camilla's birthday. Kate doesn't appear to be pregnant yet, or at least in the very early stages of her pregnancy, when the picture was shot.

isis-killer-beheading-video-story-top Facebook and Universal Music Group Strike Up Unprecedented Global Licensing Agreement
Dec 22, 2017 - 01:24
The move is the first step to competing with streaming giants such as Google-owned YouTube's over online music videos. YouTube has received criticism for not adequately paying artists for streams of their music videos.

isis-killer-beheading-video-story-top Apple confirms its slowing down old iPhones - here's why
Dec 22, 2017 - 01:10
On Slate, technology writer Will Oremus said Apple's secrecy allowed conspiracy theories about planned obsolescence to thrive. From what I can tell, Apple slows down phones when their battery gets too low, so you can still have a full days charge.

Snow Christmas Eve could make for slippery travel conditions in Northeast Ohio
Dec 22, 2017 - 01:08
Met Éireann have given their Christmas update and their thoughts on the possibility of a white Christmas. Set rain chances for Friday at 30 percent with afternoon highs yet again reaching the mid to upper 70s.

isis-killer-beheading-video-story-top Toys R Us proposes ten-year pension deal to stave off collapse
Dec 21, 2017 - 01:14
Yesterday, the PPF stressed that talks will continue with Toys R Us in the hope of reaching an agreement ahead of Thursday's crunch vote.

isis-killer-beheading-video-story-top Former NBA player Charlie Villanueva has his toilet stolen
Dec 21, 2017 - 01:14
Villanueva, 33, played in the National Basketball Association for 11 seasons and averaged 10.4 points and 5.6 rebounds per game. Charlie Villanueva was last on an National Basketball Association roster in 2016 when he played for the Mavericks .

isis-killer-beheading-video-story-top Magic Leap Finally Reveals Hardware, Dev Kits Ship Early 2018
Dec 21, 2017 - 01:13
Similarly, Business Insider , The Verge , Engadget , CNBC and others wrote about the website , citing the alleged features. We are more of a premium artisanal computer, " suggesting we are nearly certainly talking about several thousand dollars.

Panthers owner Richardson to sell team amid misconduct allegations
Dec 21, 2017 - 01:12
Richardson, a former receiver for the Baltimore Colts, received a heart transplant in 2009 that saved his life. Richardson, 81, in a statement wrote, "I believe that it is time to turn the franchise over to new ownership".

isis-killer-beheading-video-story-top Watchdog: Justin Trudeau Is Under Scrutiny Over Alleged Ethics Violations
Dec 21, 2017 - 01:11
Going forward, Trudeau vowed to clear all family vacations with the ethics watchdog in advance in order to avoid conflicts. Accepting an invitation , and accommodations on the private island, from someone who is registered to lobby his office.

isis-killer-beheading-video-story-top PUBG Has Just Had its First Xbox One Patch
Dec 21, 2017 - 01:11
It's the most popular video game on Steam , and Microsoft is hoping this title will garner a huge fanbase on its console. The news comes from Xbox Wire , who announced the figures on Friday, ahead of PUBG's first weekend on sale.

isis-killer-beheading-video-story-top New York Islanders to leave Brooklyn, return to suburbs
Dec 21, 2017 - 01:10
The new arena will be situated in one of the track's parking lots, not far from a Long Island Rail Road station. It now has no major sports teams playing there regularly and fills its calendar with concerts and other events.