More than $800bn has been wiped off global cryptocurrency markets in recent weeks, as the enthusiasm that swept the crypto industry after Donald Trump’s election victory last year ebbs away.
The price of bitcoin dropped as much as 3.6 per cent on Wednesday to $85,600, taking its losses over the past month to 15 per cent. Other tokens have suffered even bigger losses as crypto assets are swept up in a broader sell-off in risk assets, and the largest-ever cryptocurrency theft shakes confidence in the industry.
Traders have also grown frustrated that Trump has not moved faster to enact some of the reforms he promised on the campaign trail.
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