The latest price drop in Bitcoin came in the backdrop of news that more countries, led by South Korea and China, were looking to step in to regulate trading in cryptocurrencies. The price drop in top cryptocurrencies—bitcoin, ethereum and ripple—during trading on Tuesday. Elsewhere, a research paper laid bare instances of, what it said were, price manipulation in bitcoin on the Mt Gox Bitcoin currency exchange. The lower conversion price suggests the valuation of MobiKwik has fallen in the intervening period, from $327 million to $279 million. Its revenues stood at Rs37.3 crore (against Rs38 crore in 2015-16) and loss at Rs131 crore (Rs109 crore).

Source: Mint January 17, 2018 06:22 UTC