Korea revoked Jia Wei's passport after obtaining an arrest order.

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2022's Summer of Terror still affects the Bitcoin business. Bitcoin's price hit a low not seen in 18 months on Wednesday. This news crushed many who thought the worst was over.

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It was reported this week that the price of bitcoin dropped to $20,289, which represents a reduction of 7.8 percent.

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Since 2020, the currency hasn't been low. Reuters claims Celsius' withdrawal freeze sparked market drops (and not only in the case of Bitcoin).

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It has been rumored that Binance halted withdrawals for a brief period of time as well. The price of Ether fell to its lowest level in 15 months, falling as much as 12%.

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The bitcoin market lost nearly $300 billion in value during the "Red Wedding moment" one month before the most recent bad news.

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Price fluctuations aren't the only symptom of a slow economy. Both the bitcoin industry and its enterprises are close to failure.

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Coinbase CEO Brian Armstrong sent a letter to employees in which he said that the company will be laying off 18% of its personnel, which is around 1,100 people.

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