Bitcoin has tumbled eight per cent as concerns mount over cryptocurrencies ahead of Facebook boss Mark Zuckerberg’s appearance before Congress this afternoon.

Regulators and lawmakers from around the world have raised concerns about the possibility of Libra being used for money laundering, and have warned the stablecoin could undermine financial systems.

Bitcoin came under pressure ahead of the hearing, falling around eight per cent to $7,462 (£5,790), its lowest level since June….…

Ana Alexandra reports in a news release shared with Cointelegraph on Sept. 10, multi-asset investment platform and social network eToro cited a survey on generational investment conducted from July 18 to July 31 among 1,000 online investors in the United States. Respondents aged between 20 and 65 years represented Generation Z, millennials, and Generation X.

\The survey found that more than two-thirds of U.S.-based investors are afraid of a recession, and would consider converting part of their stock portfolios to safer investments or hedge with crypto assets, commodities or real estate.

Among survey participants, 40% of millennials said that they would prefer to invest in crypto assets if a recession occurs, while 50% of Gen Z said they would choose real estate. As for Gen X, 38% said that they would hedge with commodities.

A recession would purportedly fuel investors’ interest in fractional ownership and new asset classes, with 92% of those most concerned about a recession saying they would own fractions of famous artworks, landmark buildings and private startups, among other types of investments.

Last week, an unknown person or group transferred 94,505 bitcoins valued at over $1 billion USD in the largest bitcoin single transaction ever.. Now, observers are scratching their heads over the question of who is responsible for the eye-popping transfer.

That transaction looks like it’s one of the recipient address’ first, followed by dozens of smaller transactions ranging from $6,644 to $.07. But go figure who is behind the transaction, as the addresses involved aren’t known to the crypto community (all Bitcoin addresses are pseudonymous….)

The idea that a business may be involved led to the theory that Bakkt, a Bitcoin futures provider that opened a “warehouse” to store customer funds on September 6, was responsible for the transaction…..

Talk about unanticipated consequences, as the Chinese yuan drops in value due to factors like the ongoing trade war with the U.S., there are signs that locals are increasingly moving funds into bitcoin.

While the Chinese government has sought to keep the value of its currency above 7 CNY to the dollar, last month the yuan was allowed to slide below that level, dropping to its lowest for 10 years. The move was reportedly in response to U.S. President Donald Trumps threats in early August to impose a 10 percent tariff on Chinese imports

The inverse correlation between bitcoin and the yuan also notched up in April and May “as the tensions ratcheted up with the deterioration on U.S.-China trade relations,..

The Australian who says he invented cryptocurrency bitcoin has been ordered to hand over half of his alleged bitcoin holdings, reported to be worth up to $5bn.

Craig Wright, 49, the IT security consultant being sued by the estate of David Kleiman, a programmer who died in 2013, for a share of Wright’s bitcoin haul over the pair’s involvement in the birth and weaning of the cryptocurrency from 2009 to 2013.

Kleiman’s estate alleges Wright and Kleiman were partners, and therefore his family is entitled to a share of the bitcoin that was mined by the pair in that time. Wright denies there was a partnership. A US district court in Florida on Tuesday ruled that half of the bitcoin mined and half of the intellectual property held by Wright from that time belongs to Kleiman.

Of course nobody knows how much bitcoin Wright holds. It has been estimated the Kleiman estate could get anywhere between 410,000 and 500,000 bitcoin, putting the value at between A$6.1bn and A$7.4bn as of Wednesday.

In another wild week for digital assets, Bitcoin extended its dominance, grabbing a greater share of the cryptocurrency market as most alternative coins declined.

Bitcoin now makes up close to three-quarters of the entire crypto universe, according to data from Coinmarketcap.com. Its market cap is above $211 billion, 10 times that of the next-largest digital asset, Ether. And in a week when traditional financial markets were roiled, its price has held up, too: Bitcoin rose 14% over the seven days through Friday, while prices for alternative assets nose dived…Thank Donny…

Bitcoin soared Monday amid a trade-war-driven move that made all major US indexes plunge. Bitcoin gained as much as 15% Monday as investors piled into the cryptocurrency, seeking a hedge against a market sell-off with equities nose diving because of the escalating trade war between the US and China.

The cryptocurrency soared to a 3-week high when it climbed as high as $11,947, according to Bloomberg data.

Other cryptocurrencies also leapt but Bitcoin is the largest cryptocurrency, making up nearly 70% of the global market according to CoinMarketCap.

Celebrating the 75th anniversary of the Bretton Woods conference is probably not high on the list of priorities for cryptocurrency enthusiasts this month. This is an understandable oversight – the price swings, confusing product launches and whereabouts of Justin Sun are perhaps more compelling.

But the birth of international economic cooperation and interoperability should be recognized as the beginning of a process of economic reconstruction that has contributed to the global imbalances worrying the markets today. It could also have set the scene for the solution.

The bulk of the U.S. stock market may be overvalued, and yields look set to go even lower – but a large part of the current strain lurks under the surface of the currency market. A combination of monetary easing, trade tensions and the threat of military action in the Middle East is a noxious cocktail for currency holders and hedgers as international conversions get risky and costly.

Perhaps because of this, as well as the disquieting brandishing of financial muscle by the U.S. administration, the chorus of questions about the role of the U.S. dollar as a global reserve currency is getting louder.

What’s more, it has held its leadership role for almost 100 years; the average global reserve currency lifespan over the past five centuries is 95 years. Shifting balances are hinting that the dollar’s reign may soon be up: its share of foreign exchange reserves is over 60%, while the weight of the U.S. economy in global output has fallen to less than 25 percent and is likely to continue trending lower.

Like the way the US was stunned the day the Japanese attacked Pearl Harbor, the bitcoin and crypto universe has been staggering after U.S. president Donald J.Trump unleashed a scathing sneak attack on bitcoin and cryptocurrencies, calling them “unregulated crypto assets” and based on “thin air.”

The bitcoin price rose slightly following Trump’s comments as bitcoin traders and investors bet that Trump’s acknowledgment of bitcoin will bring greater awareness of crypto and push prices up. But more importantly, Trump has inadvertently catapulted bitcoin and cryptocurrencies into a presidential issue and given valuable recognition to the burgeoning bitcoin technology—with some 2020 U.S. presidential election hopefuls already bitcoin and cryptocurrency fans.