News Snapshot:
(Bloomberg) -- Bitcoin and other major cryptocurrencies slumped after the People’s Bank of China reiterated that the digital tokens cannot be used as a form of payment. The largest cryptocurrency fell as much as 5.1% to $42,547 in New York, continuing a week-long slide sparked by Elon Musk’s back-and-forth comments on Tesla Inc.’s holdings of the coin. Bitcoin is now at its lowest level since early February. Ether lost more than 7%, while last week’s sensation, Internet Computer, continued its plunge. Dogecoin also slid. “This is the latest chapter of China tightening the noose around crypto,” said Antoni Trenchev, managing...
