KEY POINTS
  • Over $100 billion was wiped off of the global cryptocurrency market in 24 hours on Friday.
  • Concerns over tighter regulation, and worries that the bitcoin price was manipulated on a major exchange called Bitfinex by a cryptocurrency called Tether, weighed on prices.
  • Bitcoin, ethereum and ripple all saw their prices tank.

Over $100 billion was wiped off the global cryptocurrency market in 24 hours on Friday amid concerns over tighter regulation and worries that the bitcoin price was manipulated on a major exchange.

The total market capitalization or value of all cryptocurrencies in circulation stood at $405 billion Friday morning New York time, according to data from CoinMarketCap.com, which takes into account the prices of digital coins across a number of key exchanges. This was a fall of $112.6 billion in value from a day before.