Bitcoin plunges as major crypto lender halts operations

AP Business Writer

NEW YORK (AP) — Bitcoin and other cryptocurrencies were collapsing in price Monday, after the major crypto lender Celsius halted all withdrawals citing “extreme market conditions.” It is the second collapse of a part of the crypto world in the last two months. The stablecoin Terra imploded in early May, erasing tens of billions of dollars worth of value in a matter of hours. Bitcoin was trading at roughly $22,600 as of midday Monday, down more than 17% in the past day. Ethereum, another widely-followed cryptocurrency, was down more than 20%.