Cryptocurrencies fell as investor concerns mounted over tighter US regulation.
Cryptocurrencies declined on Monday as investor concerns mounted over tighter US regulation, the fallout from a hack targeting Binance, weakening institutional demand, and outflows from exchange-traded funds (ETFs).
Democratic control of the US Congress following the midterm elections has raised concerns about tighter oversight of the cryptocurrency market and delays to legislation that industry companies are seeking to pass to regulate digital assets.
Binance, the world's largest cryptocurrency exchange, announced that its Chief Financial Officer, Kaiser Ng, had stepped down, days after the platform was hacked, resulting in the theft of $6.3 billion in digital assets.
Meanwhile, Binance Co-CEO Yi He said Ng had decided to pursue a new professional opportunity after more than five years with the company, Bloomberg reported.
Changes in cryptocurrency prices
Cryptocurrency
Price (USD)
Change (USD)
Change (%)
Bitcoin
74,095.75
(1,544.75)
(2.04%)
Ethereum
2,112.05
(113.27)
(5.09%)
XRP
1.0860
(0.0218)
(2.02%)
