Republican and Democratic senators sharply questioned Facebook Inc’.s plan to create its own digital money.

Facebook’s David Marcus faced a cacophony of fear, uncertainty and doubt surrounding the social media giant’s plan to launch its digital currency Libra during a Senate hearing Tuesday, following criticisms from a wide range of regulators and lawmakers around the globe.

Ryan Taylor, the CEO of Dash, opines that Bitcoin is flawed as a payment solution.

The Bitcoin (BTC) price has dipped below the $10,000 price mark on July 16, while all top 20 coins by market cap are seeing significant losses.

After a period of consolidation and choppy trading, Bitcoin (BTC) has failed to garner any notable buying pressure and briefly plummeted below $10,000 before finding some support that has allowed its price to stay afloat above this key psychological price level.

Bitcoin fell 8% on Tuesday, breaching $10,000 for the first time in two weeks after U.S. lawmakers grilled Facebook on its cryptocurrency plans, as political and regulatory scrutiny of digital coins intensifies.

Grayscale Bitcoin Trust (GBTC), a closed-end fund that invests exclusively in bitcoin, serves as perhaps the best indicator of institutional investment in bitcoin.

Bitcoin price continues to dive following a rejection a couple weeks back from $13,800 that stopped Bitcoin’s parabolic rally dead in its tracks – and may have done so for the remainder of the year.

US lawmakers are holding a hearing today to learn more from Facebook about their role in the planned Libra cryptocurrency.

Facebook Inc is “delusional” to believe people will trust it with their money, a U.S. senator said on Tuesday as lawmakers from both sides of the aisle questioned the social media company on its plans for a digital currency at a hearing on Tuesday.