SINGAPORE : Bitcoin stabilised above $25,000 on Tuesday after a steep dive overnight, as investors grappled with news that the U.S. securities regulator sued crypto exchange Binance, dealing a severe blow to the industry.
"It's another blow to the crypto industry and the crypto exchanges of the world," said Tony Sycamore, market analyst at IG Markets. Reuters earlier reported that Binance controlled its U.S. affiliate's bank accounts, despite claiming it was independent.
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