- Are 10% moves for Bitcoin (BTC-USD) still newsworthy? Probably not, but uncertainty in the crypto space definitely made headlines after Jerome Powell said Facebook's Libra offering should "not go forward" without addressing concerns.
- Those include privacy, money laundering, consumer protection and financial stability, the Fed Chair declared during his semi-annual testimony before the House Financial Services Committee.
- The crypto shed close to $1500 to the mid-$11K level following the comments, which echoed a growing chorus of doubts about Libra from authorities around the world.