Bitcoin drops to $22,277 and Ether currency hits $1,563 as the cryptocurrency tumbles during the East Asian trading day opening hours! Major digital assets plunged at the start of the business day in Hong Kong on Friday. Bitcoin (BTC) and Ether (ETH) are both down more than 5% as customers leave crypto bank Silvergate, whose shares fell 58% in U.S. trading on Thursday. Most of the other 10 largest cryptocurrencies by market cap experienced similar declines as BTC and ETH. Nick Ruck of ContentFi, a Web3 venture capital studio, said: “Organizations are a bit nervous because Silvergate seems to be in trouble. Ruck also points to the release of some bitcoins from Mt. Gox, which will increase its circulating supply, as another source of volatility. The rapid sell-off took a toll on leading cryptocurrency exchange Coinbase, which started experiencing connectivity issues at 10:00 a.m.: 8pm Hong Kong time. Other major crypto exchanges including Binance, Bitfinex, Kucoin, OKX, ...