Bitcoin plunges as major crypto lender halts operations

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NEW YORK (AP) — The price of bitcoin and other cryptocurrencies have tumbled after the major crypto lender Celsius halted all withdrawals citing “extreme market conditions.”

It is the second collapse of a part of the crypto world in the last two months. The stablecoin Terra imploded in early May, erasing tens of billions of dollars worth of value in a matter of hours. Bitcoin was trading at roughly $23,400 Monday afternoon, down more than 16% in the past day. Ethereum, another widely followed cryptocurrency, was down more than 20%.

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