
Why is the price of Bitcoin and other cryptocurrencies falling?
CBSN
The price of Bitcoin fell as much as 29% Wednesday after the China Banking Association warned member banks of risks associated with digital currencies. Other digital currencies suffered sharp declines as well.
Bitcoin's volatility was on full display: The decline had narrowed to below 10% in early afternoon trading. Bitcoin has lost about 40% of its value since April 13 when it hit a high of more than $64,606 per coin. Before Wednesday, Tesla's decision to not accept the digital currency as payment for cars, along with concerns about tighter regulation of digital currencies, were major factors in the decline. The price is still up about 31% in 2021 and nearly 300% from a year ago.
Washington — Emil Bove, a top Justice Department official who previously served as President Trump's criminal defense attorney, declined to rule out the possibility of the president running for a third term and did not denounce the Jan. 6 attack on the Capitol in a questionnaire submitted to a Senate panel considering his nomination for a lifetime appointment as a federal judge.

Yangon — Myanmar's military leader lauded President Trump and asked him to lift sanctions, the ruling junta said Friday, after a tariff letter from the U.S. president that it has taken as Washington's first public recognition of its rule. Min Aung Hlaing endorsed Mr. Trump's false claim that the 2020 U.S. election was stolen, and thanked him for shutting down funding for U.S.-backed media outlets that have long provided independent coverage of conflict-wracked Myanmar.