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6 Feb 2026, 16:55
China’s Dramatic Crackdown: Sweeping Ban on Overseas Yuan Stablecoins and Tokenization Shakes Global Crypto
BitcoinWorld China’s Dramatic Crackdown: Sweeping Ban on Overseas Yuan Stablecoins and Tokenization Shakes Global Crypto In a decisive move that reverberated through global financial markets, Chinese authorities have dramatically expanded their cryptocurrency crackdown, explicitly banning the overseas issuance of yuan-pegged stablecoins and imposing stringent new controls on asset tokenization. This significant policy escalation, announced in early 2025 by eight key state agencies including the People’s Bank of China (PBOC), represents a critical hardening of China’s stance against decentralized digital assets and underscores its determination to maintain absolute sovereignty over its monetary system. The new rules directly target financial instruments that regulators argue threaten the core functions of national currency. China’s Stablecoin Ban Targets Monetary Sovereignty Chinese regulatory authorities have now explicitly classified fiat-pegged stablecoins as a primary threat to national monetary policy. Consequently, the joint announcement from agencies like the PBOC and the China Securities Regulatory Commission (CSRC) introduces a sweeping new prohibition. This rule forbids all Chinese companies, including the foreign branches of domestic firms, from issuing yuan-based stablecoins abroad without explicit government approval. Authorities argue these digital assets dangerously mimic the core functions of a sovereign currency, potentially creating parallel monetary systems outside state control. Furthermore, the report reiterates China’s comprehensive ban on all cryptocurrency activities. The prohibition covers trading, issuance, and facilitation of transactions for assets like Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). This latest action builds systematically upon the country’s 2021 declaration that all crypto-related business activities were illegal, which also famously banned cryptocurrency mining. The regulatory framework now exhibits a clear, escalating trajectory aimed at eliminating perceived threats to financial stability. Tokenization Rules Introduce New Regulatory Hurdles Alongside the stablecoin crackdown, Chinese authorities have significantly tightened controls on the tokenization of real-world assets. Under the new mandates, any domestic Chinese company seeking to tokenize overseas assets must now navigate a formal approval process. Companies must obtain regulatory consent or submit comprehensive documentation proving compliance with established national standards. This move effectively places a formidable bureaucratic barrier around a rapidly growing segment of the global digital finance ecosystem. Analysts view this as a strategic effort to control capital flows and maintain oversight over how Chinese entities interact with global digital asset markets. The tokenization sector, which involves converting rights to physical or financial assets into digital tokens on a blockchain, has seen explosive growth worldwide. By imposing these rules, China aims to prevent its corporations from participating in these markets in ways that could circumvent existing capital controls or financial oversight mechanisms. Historical Context and Global Regulatory Divergence China’s latest regulatory salvo did not emerge in a vacuum. It represents the latest chapter in a multi-year campaign that began with the 2017 shutdown of domestic cryptocurrency exchanges. The 2021 mining ban then crippled a once-dominant industry, causing a major geographic shift in Bitcoin’s global hash rate. This persistent crackdown contrasts sharply with regulatory approaches in jurisdictions like the European Union, which has implemented the comprehensive Markets in Crypto-Assets (MiCA) framework, and the United States, where a patchwork of state and federal guidelines creates a more complex, albeit less restrictive, environment. The specific targeting of yuan stablecoins highlights a fundamental concern for Beijing: currency competition. A widely adopted digital yuan (e-CNY) represents a cornerstone of China’s financial technology strategy. The existence of private, offshore yuan-pegged stablecoins could undermine this state-led digital currency initiative by creating alternative settlement networks. Consequently, the ban serves the dual purpose of protecting monetary policy and bolstering the official digital currency project. Immediate Market Impact and Long-Term Implications The announcement triggered immediate reactions across cryptocurrency markets. While major global stablecoins like USDT and USDC saw minor volatility, the news cast a shadow over projects specifically involving Asian currency pegs. Market participants quickly assessed the risk of similar regulatory actions in other jurisdictions. The long-term implications are more profound, potentially stifling innovation in yuan-denominated decentralized finance (DeFi) and pushing related development activity entirely outside Chinese influence. For global enterprises and financial institutions, the rules create new compliance complexities. Multinational companies with Chinese operations must now ensure their global digital asset strategies do not inadvertently violate the prohibitions on overseas issuance or facilitation. This adds a significant layer of due diligence for any corporation engaged in blockchain-based finance, particularly those exploring cross-border payment solutions or supply chain tokenization that might involve Chinese partners or assets. Expert Analysis on Financial Stability and Control Financial policy experts point to the stability-control paradox inherent in China’s approach. By aggressively eliminating perceived threats from private digital currencies, authorities aim to reduce systemic risk and prevent capital flight. However, this same action may also discourage the development of legitimate financial technology that could improve efficiency within the controlled system. The stringent tokenization rules, for instance, could slow the adoption of blockchain for authentic use cases like trade finance or securities settlement, where China has otherwise shown interest. The coordinated announcement from eight agencies also signals a whole-of-government consensus on the issue. This level of coordination suggests that digital asset policy now sits at the highest levels of Chinese economic planning, linked directly to goals of financial sovereignty and technological self-reliance. Observers note that this makes a near-term reversal of policy highly unlikely, solidifying China’s path as distinctly separate from the evolving regulatory frameworks in North America and Europe. Conclusion China’s dramatic ban on overseas yuan stablecoins and its tightened tokenization rules mark a pivotal moment in the global confrontation between state monetary authority and decentralized digital assets. This policy escalation reinforces China’s position as having the world’s most restrictive cryptocurrency regulatory environment. The move protects the primacy of the sovereign yuan and the state’s digital currency ambitions while deliberately constraining the growth of private sector alternatives. As the digital asset landscape continues to evolve, China’s stringent approach will undoubtedly serve as a critical reference point—and a significant barrier—for global finance navigating the intersection of blockchain technology and national regulation. FAQs Q1: What exactly did China ban regarding stablecoins? Chinese authorities banned all domestic and overseas Chinese companies, including foreign branches, from issuing yuan-pegged stablecoins outside China without explicit government approval. This targets digital assets that mimic the Chinese currency. Q2: How do the new rules affect asset tokenization? Chinese companies must now obtain regulatory approval or submit extensive documentation to tokenize overseas assets. This creates a significant new compliance hurdle for using blockchain to represent ownership of foreign assets. Q3: Why is China specifically targeting yuan-based stablecoins? Regulators state that such stablecoins threaten monetary policy by acting like a national currency outside state control. The ban also supports China’s own central bank digital currency (CBDC), the digital yuan (e-CNY), by eliminating potential competitors. Q4: Does this change the existing ban on cryptocurrencies like Bitcoin? No. The announcement reiterates and expands upon the comprehensive ban. All trading, issuance, and facilitation of transactions for cryptocurrencies like BTC and ETH remain illegal within China’s jurisdiction. Q5: What was the immediate reaction in global crypto markets? The news caused heightened scrutiny of regulatory risks, particularly for projects involving Asian currency pegs. While major global stablecoins saw limited direct impact, the announcement underscored the growing divergence in national approaches to digital asset regulation. This post China’s Dramatic Crackdown: Sweeping Ban on Overseas Yuan Stablecoins and Tokenization Shakes Global Crypto first appeared on BitcoinWorld .
6 Feb 2026, 16:51
Crypto-linked stocks rebound as bitcoin, ether rout ease
More on Bitcoin USD, Ethereum USD, etc. CleanSpark, Inc. 2026 Q1 - Results - Earnings Call Presentation Is Bitcoin Digital Gold Or Fool's Gold? The Market's Still Deciding CleanSpark, Inc. (CLSK) Q1 2026 Earnings Call Transcript Bitcoin and software stocks have been more correlated in the last months – BTIG’s Krinsky Biggest stock movers Friday: Crypto stocks, LUMN, AMZN, STLA, and more
6 Feb 2026, 16:45
USDC Minted: The Stunning 250 Million Dollar Injection Reshaping Crypto Liquidity
BitcoinWorld USDC Minted: The Stunning 250 Million Dollar Injection Reshaping Crypto Liquidity On-chain analytics platform Whale Alert reported a significant blockchain transaction on March 21, 2025, revealing that the USDC Treasury minted a substantial 250 million USDC. This single event, recorded on the Ethereum blockchain, immediately captured the attention of traders, analysts, and regulators worldwide. Consequently, it sparked a deep analysis of stablecoin dynamics, market liquidity, and the evolving role of centralized digital dollar equivalents in the global financial system. This report provides a factual breakdown of the minting process, its historical context, and its potential ramifications for cryptocurrency markets. Understanding the 250 Million USDC Minted Event The process of minting USDC involves Circle, the primary issuer, creating new tokens in response to verified U.S. dollar deposits. When a user deposits one dollar into a Circle-reserved bank account, the company then mints one USDC token on the blockchain. The recent 250 million USDC minted transaction signifies a major inflow of traditional capital seeking entry into the digital asset ecosystem. Blockchain explorers confirm the transaction originated from the official USDC Treasury address, ensuring its authenticity. Historically, large-scale minting events often precede periods of increased activity. For instance, similar mints have correlated with expansions in decentralized finance (DeFi) lending pools or preparations for large over-the-counter (OTC) trades. This specific volume, equivalent to a quarter of a billion dollars, suggests institutional-scale movement. Market data from the past 24 hours shows a corresponding increase in USDC circulating supply, as tracked by metrics providers like CoinMetrics and The Block. Stablecoin News and Market Context in 2025 The stablecoin sector has matured significantly, with USDC and its main competitor, Tether (USDT), dominating the landscape. Regulatory clarity, particularly the implementation of the EU’s MiCA framework and ongoing U.S. legislative efforts, has shaped issuer behavior. Circle maintains monthly attestations by Grant Thornton, providing transparency into its dollar reserves, a key factor for institutional adoption. The 250 million USDC minted event occurs within this environment of heightened scrutiny and demand for compliant digital dollars. Analysts often interpret such mints as a bullish signal for cryptocurrency liquidity. Fresh USDC typically flows into trading venues, lending protocols, or serves as collateral for synthetic assets. The table below compares recent large stablecoin mints and their observed market impact. Date Stablecoin Amount Minted Observed Market Context (7-Day Window) Jan 2025 USDT $300M Increased BTC/ETH spot market volume Feb 2025 USDC $180M Surge in DeFi total value locked (TVL) Mar 21, 2025 USDC $250M Event pending; historical patterns suggest liquidity injection Furthermore, the demand for USDC is frequently driven by its role as the primary quote currency on many regulated exchanges and its integration within traditional finance rails. Expert Analysis on Treasury Operations and Liquidity Financial technology experts emphasize the operational precision behind such events. “A mint of this size is not accidental; it reflects coordinated capital deployment,” notes a former compliance officer for a major digital asset firm, speaking on standard industry practices. The funds backing the newly minted USDC are held in U.S. Treasury bonds and cash equivalents, as detailed in Circle’s public reports. This reserve management strategy aims to ensure stability and redeemability, which is the core value proposition of any stablecoin. The immediate impact often manifests in on-chain metrics. Data from DeFi Llama may show rising USDC balances in smart contracts for protocols like Aave, Compound, and Uniswap V3. This liquidity can lower borrowing rates in money markets and reduce slippage for large trades on decentralized exchanges. However, experts caution that correlation does not equal causation; the ultimate market effect depends on the holder’s intent for the newly minted capital. The Broader Impact on Cryptocurrency Liquidity and DeFi The injection of 250 million USDC has direct implications for cryptocurrency liquidity. Stablecoins act as the lifeblood of the digital asset trading ecosystem, facilitating seamless transitions between volatile assets like Bitcoin and traditional value. Key areas of impact include: Exchange Reserves: Centralized exchanges may see USDC deposit inflows, boosting available trading pairs. DeFi Yield Opportunities: New capital can chase yield in lending and liquidity provision pools, potentially compressing annual percentage yields (APYs). Derivatives Market: USDC is a common collateral asset for perpetual swaps and options on platforms like dYdX and Deribit. From a macroeconomic perspective, large stablecoin mints can sometimes reflect dollar liquidity seeking higher yields in a digital environment, especially in periods of traditional market uncertainty. The transparency of the blockchain allows analysts to trace a portion of these funds, providing a real-time gauge of capital flow sentiment. Regulatory Landscape and Future Implications The 2025 regulatory environment for stablecoins is more defined than in previous years. The 250 million USDC minted event occurs under the watchful eye of bodies like the U.S. Treasury’s Office of Foreign Assets Control (OFAC), which sanctions blockchain addresses. Circle, as a regulated entity, employs compliance tools to screen transactions. This mint reinforces USDC’s position as a “regulated liability” stablecoin, contrasting with algorithmic or crypto-collateralized variants. Future implications hinge on continued adoption for payments, remittances, and as a settlement layer. Central bank digital currency (CBDC) projects may also influence stablecoin utility. Observers will monitor whether this mint is part of a sustained trend of growth for USDC’s market capitalization or an isolated institutional transaction. Conclusion The report of 250 million USDC minted by the USDC Treasury is a significant on-chain event with layered implications. It highlights the growing scale of institutional activity, the critical role of transparent stablecoins in providing cryptocurrency liquidity, and the interconnected nature of traditional and digital finance. While the immediate market movements remain to be fully observed, the event underscores the maturation of blockchain-based financial infrastructure. Monitoring the flow of these newly minted tokens will offer valuable insights into capital allocation trends within the digital asset space for the remainder of 2025. FAQs Q1: What does it mean when USDC is “minted”? Minting USDC is the process of creating new tokens on a blockchain. Circle issues new USDC when it receives an equivalent amount of U.S. dollars into its reserved bank accounts, ensuring each token is fully backed. Q2: Who controls the USDC Treasury? The USDC Treasury is controlled by Circle, the primary issuer of the USDC stablecoin, in conjunction with its governance partner, Coinbase. Minting and burning functions are managed through smart contracts on supported blockchains. Q3: Does minting new USDC cause inflation? No, in the traditional economic sense. USDC is a fiat-collateralized stablecoin, not a sovereign currency. New tokens are only created 1:1 against verified dollar deposits, so the total supply expands or contracts based on user demand and redemptions. Q4: How can I verify a large mint like the 250 million USDC transaction? You can verify the transaction by using a blockchain explorer like Etherscan. Search for the official USDC Treasury address (often published by Circle) and review the transaction history for mint events. Q5: What is the difference between USDC minting and USDT issuance? Both are fiat-collateralized stablecoins, but they are issued by different companies (Circle and Tether, respectively). Their reserve composition, transparency reports, and regulatory approaches differ, though the basic minting mechanism for creating new tokens is similar. This post USDC Minted: The Stunning 250 Million Dollar Injection Reshaping Crypto Liquidity first appeared on BitcoinWorld .
6 Feb 2026, 16:40
Tether Mints 1B $USDT: Liquidity Injection Hits as SUBBD Targets $85B Creator Economy
What to Know: Tether’s $1B mint signals institutional preparation for increased market activity and potential buy-side pressure. Liquidity typically flows from major caps to high-utility sectors, specifically AI and decentralized applications. SUBBD Token uses AI and Web3 to eliminate the 70% fees common in the $85B creator economy. Smart money is accumulating early, with over $1.47M raised in the ongoing presale phase. Tether Treasury just printed another 1 billion $USDT . While historically linked to volatility, this massive mint signals immense buy-side pressure building beneath the surface of the digital asset landscape. The transaction took place on the Ethereum network, pushing the stablecoin market cap toward yearly highs. Why does this matter? Stablecoin issuance is effectively the starting gun for capital inflows. When institutions and whales prepare to enter positions, they don’t buy with fiat on-chain; they load up on stablecoins first. The timing aligns perfectly with Bitcoin’s consolidation near critical resistance, suggesting smart money is positioning for a breakout. But there’s a catch. While Bitcoin opens the door, the biggest percentage gains usually rotate into high-utility altcoins shortly after the liquidity tap opens. The current market structure is favoring specific sectors rather than lifting all boats. Investors are looking past broad indexing to find application-layer protocols fixing actual Web2 headaches. This search for yield has landed squarely on the collision of AI and the creator economy, a sector where legacy platforms shamelessly take up to 70% cuts. As liquidity floods the system, projects like SUBBD Token ($SUBBD) are catching that early capital by attacking these monetization bottlenecks head-on. CHECK OUT $SUBBD ON ITS OFFICIAL PRESALE PAGE AI Agents and Web3 Fix the ‘OnlyFans Problem’ The content creation industry churns out over $85B annually, yet the infrastructure supporting it remains predatory. Platforms act as centralized gatekeepers, extracting the lion’s share of revenue and enforcing arbitrary censorship. SUBBD isn’t just tweaking this model; it’s dismantling it. By merging Web3 transparency with advanced AI tools, the protocol hands control back to the creators. This is more than a payment layer; it’s an operational overhaul for the gig economy. SUBBD integrates proprietary AI models for content generation, including AI Voice Cloning and specialized chatbots that automate creator-fan interactions. For influencers juggling thousands of subscribers, the ‘AI Personal Assistant’ handles engagement without losing that personal touch. That’s a utility that directly impacts the bottom line. By running on Ethereum with EVM-compatible smart contracts, SUBBD removes the friction of traditional banking rails. While legacy platforms sit on payouts for weeks, blockchain settlement offers near-instant liquidity. Plus, the governance model separates it from Web2 giants; holding $SUBBD lets users vote on feature rollouts and policies. The ecosystem evolves based on what stakeholders need, not what a corporate boardroom decides. BUY $SUBBD ON ITS OFFICIAL PRESALE PAGE Smart Money Rotates Into Presale Utility As Tether juices market liquidity, speculative capital is moving further out on the risk curve to find undervalued assets before they list on public exchanges. SUBBD’s raise data reflects this shift. The project has already pulled in over $1.4M, signaling serious demand for AI-centric utility tokens despite the broader market chop. At $0.0574925, the current entry point sits well before the typical volatility of open market trading. But it’s not just about price appreciation. The protocol incentivizes holding through a structured staking mechanism. Investors can lock tokens to earn a fixed 20% APY during the first year, a rate that significantly outpaces traditional DeFi yields and helps offset inflation. High-yield staking meets deflationary utility. As the platform launches its ‘HoneyHive’ membership tiers and token-gated exclusive content, the circulating supply of $SUBBD is designed to contract relative to usage. With the creator economy projected to double in size by 2027, the presale metrics suggest sophisticated investors are betting on SUBBD to eat legacy incumbents’ lunch. Find out more about $SUBBD in our ‘ How to Buy SUBBD Token ‘ guide. This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry inherent risks, and presale assets can be volatile. Always conduct your own due diligence.
6 Feb 2026, 16:40
USDC Minted: Stunning 250 Million Stablecoin Injection Signals Major Market Preparation
BitcoinWorld USDC Minted: Stunning 250 Million Stablecoin Injection Signals Major Market Preparation In a significant move within the digital asset space, blockchain tracker Whale Alert reported on April 2, 2025, that the USDC Treasury executed a substantial mint of 250 million USDC. This event immediately captured the attention of market analysts and institutional investors globally, prompting deep analysis of its potential implications for liquidity, trading volumes, and broader financial markets. Consequently, understanding the mechanics and context behind such a large-scale stablecoin creation becomes crucial for anyone monitoring cryptocurrency trends. USDC Minted: Decoding the Treasury’s 250 Million Move The process of minting USDC involves Circle, the issuer, creating new tokens after receiving an equivalent amount of U.S. dollars. These dollars are then held in reserved accounts managed by regulated financial institutions. This recent 250 million USDC mint represents a direct response to market demand, typically from large institutions, exchanges, or trading desks requiring deep liquidity pools. Historically, similar large mints have preceded periods of increased trading activity or served as capital preparation for major market moves. For instance, data from prior years shows a correlation between significant USDC supply increases and rising trading volumes on decentralized exchanges (DEXs) and centralized platforms. This mint elevates the total circulating supply of USDC, reinforcing its position as a leading fiat-backed stablecoin. Furthermore, the transparency of this on-chain event, verified by Whale Alert, underscores the auditable nature of blockchain-based finance compared to traditional systems. The Mechanics and Verification of Stablecoin Minting Stablecoin operations rely on a clear and verifiable mint-and-burn mechanism. When an entity deposits U.S. dollars with Circle, smart contracts on the Ethereum blockchain, and other supported networks, generate the corresponding USDC. Independent auditors regularly verify the reserve holdings, ensuring full collateralization. This 250 million USDC mint underwent this standard process, with the transaction hash permanently recorded on the blockchain for public verification. Expert Analysis: Interpreting Whale-Level Transactions Market analysts often interpret large stablecoin mints as a signal of institutional capital positioning. “Significant inflows into stablecoins like USDC can indicate that large players are moving funds on-chain in preparation for deployment,” notes a recent report from blockchain analytics firm IntoTheBlock. This capital might target decentralized finance (DeFi) yield opportunities, serve as margin for derivatives trading, or provide liquidity for large over-the-counter (OTC) trades. Therefore, the market watches these treasury actions closely for clues about future asset flows. Comparatively, the stablecoin landscape includes rivals like Tether’s USDT and DAI. While USDT often sees mints for exchange liquidity, USDC mints frequently correlate with institutional and DeFi activity. The table below contrasts key attributes of this mint with general stablecoin traits: Feature This 250M USDC Mint Typical Stablecoin Characteristic Transparency Publicly reported via Whale Alert Varies by issuer; USDC is highly transparent Likely Purpose Institutional liquidity provision Exchange reserves, trading, DeFi collateral Impact on Supply Increases circulating supply Can be inflationary or responsive to demand Reserve Backing U.S. dollar reserves held in regulated banks Should be 1:1 with fiat or assets Historical Context and Market Impact Trajectory Examining historical data provides essential context for this event. For example, in Q4 2023, a series of large USDC mints preceded a notable rally in Ethereum and other altcoins as capital moved from stablecoins into volatile assets. The current macroeconomic climate, including interest rate environments and traditional market performance, also influences how this new liquidity might be utilized. Analysts monitor several key impact areas: DeFi Liquidity: New USDC often flows into lending protocols like Aave or Compound, or liquidity pools on Uniswap, lowering borrowing costs and improving swap rates. Exchange Reserves: Centralized exchanges may bolster their USDC wallets to facilitate faster client withdrawals and trading pairs. Market Sentiment: Large mints can be interpreted bullishly, suggesting incoming buying pressure for other cryptocurrencies. However, it is critical to distinguish between minting driven by organic demand and minting for operational purposes. Continuous on-chain analysis over the following weeks will reveal if this USDC remains in treasury wallets or disperses into active trading ecosystems. The Role of Transparency and Regulatory Compliance Circle’s commitment to regulatory compliance forms a cornerstone of USDC’s trust model. The company holds licenses like the New York Department of Financial Services (NYDFS) BitLicense. Monthly attestation reports from Grant Thornton LLP verify that USDC reserves match or exceed the tokens in circulation. This regulatory clarity makes large mints like the 250 million USDC event less a source of speculation and more a transparent indicator of verified financial activity, appealing to traditional finance institutions entering the digital asset space. Conclusion The minting of 250 million USDC is a substantial event that highlights the growing intersection of traditional finance and blockchain technology. This action reflects robust demand for a regulated, transparent stablecoin and may signal preparatory steps by major market participants. As the digital asset ecosystem evolves, transparent on-chain events like this USDC mint provide valuable, real-time insights into capital flows and institutional behavior, solidifying the role of stablecoins as critical infrastructure for the future of finance. FAQs Q1: What does it mean when USDC is “minted”? Minting USDC means creating new tokens. Circle issues new USDC after receiving an equivalent deposit of U.S. dollars, which are held in reserve. The process is transparent and recorded on a blockchain. Q2: Who typically requests a large USDC mint of 250 million? Large mints are usually executed for institutional clients, major cryptocurrency exchanges, or large trading firms that need significant on-chain liquidity for operations, client services, or DeFi activities. Q3: Does minting new USDC cause inflation or devalue existing tokens? No. Each USDC is backed 1:1 by U.S. dollar reserves or other approved assets. Minting new tokens does not dilute the value of existing USDC, as the total reserve increases proportionally. Q4: How can the public verify that this 250 million USDC mint actually happened? The transaction is recorded on the blockchain (e.g., Ethereum). Anyone can view the transaction hash reported by Whale Alert using a block explorer like Etherscan to confirm the details. Q5: What is the difference between minting USDC and printing money? Printing fiat currency is a monetary policy action by a central bank. Minting USDC is a collateralized operation where every new token is backed by an existing dollar asset held in reserve, making it a fully backed digital representation of money, not new money creation. This post USDC Minted: Stunning 250 Million Stablecoin Injection Signals Major Market Preparation first appeared on BitcoinWorld .
6 Feb 2026, 16:38
Bithumb’s Bitcoin glitch explained: balance error, forced selling, and a contained flash crash
Bitcoin briefly plunged more than 17% on Bithumb after a system error credited thousands of BTC to users.
