The crypto markets are reeling amid rumors that the U.S. Treasury Department may soon accuse a number of financial institutions of using digital assets to launder money.

The popular Twitter account FXHedge was first to cover the potential move from the agency, sending an alert out to 122,700 followers.

The move triggered at least $7.9 billion in liquidations, according to the analytics tracker Bybt.

https://dailyhodl.com/2021/04/17/bitcoin-and-crypto-markets-plummet-as-u-s-treasury-rumor-spreads/