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Cryptocurrency plunged Friday ahead of plans to pay out nearly $9 billion to users Bitcoin exchange collapses Mt. Gox.
As of 9:20 a.m. London time, the price of bitcoin had fallen more than 6% in 24 hours to $54,237.18, its lowest level since late February, according to data from CoinGecko.
Rival cryptocurrency Ether fell about 10% to $2,869.36.
According to CoinGecko data, the entire cryptocurrency market has lost more than $170 billion in market capitalization in the past 24 hours.
This breaking news is being updated.
