CoinDesk (@CoinDesk) “RECAP: Five years ago today, crypto had its worst single-day crash in history. $” — TopicDigg
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RECAP: Five years ago today, crypto had its worst single-day crash in history.
$BTC -30%.
$ETH -40%.
$DOGE -45%.
$ 8B+ liquidated in 24 hours. 775,000 traders wiped out.
The catalyst sequence:
@elonmusk pulled Tesla's $BTC payments on May 12.
China's PBOC banned financial institutions from crypto on May 18.
@Binance, @Coinbase and @RobinhoodApp all went down as traders rushed the exits.
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