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Cryptocurrencies plunged on Friday ahead of the planned payout of nearly $9 billion to users of collapsed bitcoin exchange Mt. Gox.
As of 9:20 a.m. London, time, bitcoin’s price slumped more than 6% in 24 hours to hit $54,237.18, its lowest level since late February, according to data from CoinGecko.
Rival token ether sank around 10% to $2,869.36.
Altogether, the entire cryptocurrency market has shed more than $170 billion in combined market capitalization in the last 24 hours, according to CoinGecko data.
This breaking news story is being updated.
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