Volatile bitcoin took another punch to the gut.
Bitcoin () briefly fell below $8,000 because of concerns that top social media companies are no longer running ads tied to cryptocurrencies. Twitter ( ) is the latest to take action against crypto ads.
The company confirmed in a statement to CNNMoney Tuesday that it has banned ads for initial coin offerings and token sales.
Initial coin offerings, or ICOs, allow companies to raise money, often by crowdfunding, through the sale of their own cryptocurrencies or digital tokens.
Google (restricting some crypto ads in June.) said earlier this month that it will begin
And Facebook (prohibiting the sale of ads that “promote financial products and services that are frequently associated with misleading or deceptive promotional practices” — which included ICOs and bitcoin.) announced in January that it was
The moves come as regulators around the world, including the Securities and Exchange Commission, warn that some ICOs are scams and have begun to crack down on…
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