Cambodia Compass report, 22th May - Some 900 trillion won ($794 billion) worth of cryptocurrency was lost within less than 24 hours as of May 19 night. Analysts attributed the market crash to a combination of several factors, including China's crackdown, Elon Musk's tweets and inflation concerns. Chinese financial regulators said they had banned financial institutions and payment companies from providing cryptocurrency services. Tesla last week suspended a plan to accept Bitcoin payments for its cars, triggering a fall last week. Investors and experts are divided over whether Bitcoin and other cryptocurrencies have hit rock bottom.
Source: Cambodia Compass comprehensive arrangement
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