News Updates: Bitcoin Plunges Days After Hitting Record High

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Here’s what you need to know to navigate the markets today.

• Bitcoin fell 15% overnight before recovering about half of his losses on Sunday. Just days earlier, the leading cryptocurrency by market capitalization had hit an all-time high of nearly $ 65,000 before its public trading debut for cryptocurrency exchanges

Coinbase.

It is unclear why Bitcoin’s value has fallen so sharply. One idea was that the decline was related to concerns that the U.S. Treasury Department might crack down on money laundering through digital assets, Bloomberg reported. Interest in cryptocurrencies has increased as Bitcoin is now accepted as payment for everything from a new Tesla to PayPal purchases. Bitcoin was trading at around $ 55,700 at 1:00 p.m. Eastern Time on Sunday, down around 8%.

• A decision on whether to resume use of Johnson & Johnson’s Covid-19 vaccine in the US should be made by Friday.
Dr. Anthony Fauci said “Face the Nation” on CBS Sunday. “I don’t know what that will be, but when I think about the possibilities, one of the ways would be to bring it back but do it with some form of caveat or some form of warning.” Use of the vaccine was discontinued on April 13 after reports of serious blood clots in six women who received it. One of the women died.

• Kroger closed two of its grocery stores in Long Beach, California on Saturday after local officials passed a “Hero’s Wage” ordinance to raise wages in the city by $ 4 an hour. The ordinance extended pay for 120 days to workers at retailers with 300 or more workers across the country.

Kroger

also plans to close three stores in Los Angeles next month after officials there approve hero wage measures to raise wages by $ 5 an hour. “The irreparable damage that will be caused to local employees and citizens as a direct result of the Long Beach City’s attempt to identify winners and losers is deeply regrettable,” Kroger said in a statement, KTLA5 reported. The California Grocers Association filed an injunction to stop the raises, but the efforts were denied in federal court.

• Travelers to Alaska can get a Covid-19 vaccine at the airport from June 1st. as part of the state’s multimillion-dollar campaign funded by state stimulus funds to bring back visitors. Cans of the

Pfizer

or Moderna vaccine will be available to travelers arriving at Anchorage, Fairbanks, Juneau or Ketchikan airports, Governor Mike Dunleavy announced on Friday. “We believe there is a real opportunity to get people back to Alaska,” added Dunleavy as he made the announcement. Alaska, the first state in the nation to offer vaccinations to residents aged 16 and older starting March 9, joins 21 other states that also offer vaccines to non-residents.

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