Bitcoin slips below $40,000 amid regulatory threats

Bitcoin tumbled in an extended selloff for cryptocurrencies, falling to around $38,000 — its lowest level in six months. The largest token sank as much as 10 per cent on Friday, marking a three-day downturn.

Other cryptocurrencies were similarly in the red as investors offloaded risky bets in a volatile week for global markets. Ether fell below $3,000, losing as much as 14 per cent. Digital assets suffered especially in recent days against a wider tech sell-off, rising regulatory threats and concerns around tighten-ing Fed policy.

“Rumors of Russian mining bans, the effects of tapering and regulatory concerns