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Best News Website or Mobile Service WAN-IFRA Digital Media Awards Worldwide 2022 Best News Website or Mobile Service Digital Media Awards Worldwide 2022 Shares of cryptocurrency and blockchain related companies fell in early trading hours on Tuesday, as bitcoin hit a six-week low following a hack at Curve Finance, a platform where users can borrow and trade in crypto. Bitcoin, the world's biggest cryptocurrency, fell about 2 per cent to $28,870. Curve Finance was the victim of a hack, the company posted on messaging platform X, formerly known as Twitter, on Sunday. Losses are estimated to be over $40 million, according to media reports. Crypto exchange Coinbase's stock fell 6.6 per cent and shares of blockchain-farm operator Bitfarms dropped about 7 per cent, in early trading. Crypto miners including Riot Platforms, Marathon Digital and U.S.-listed shares of Canada's Hut 8 Mining declined between 3.5 per cent per centand 5.4 per cent. The crypto industry is at a crucial juncture, with two of the biggest industry players - Binance and Coinbase - under fire from the U.S. Securities and Exchange Commission. Rate hikes by the U.S. Federal Reserve have also added pressure to risky assets such as crypto.
Read more: channelnewsasia
