Waqar Zaka has emerged as the face of the crypto trading and investing community in Pakistan, something it seems he was fairly happy with. Among the many early adopters in the country, the man leads a whole army of crypto-enthusiasts. However as cryptocurrency faced a surprising crash, is any one checking up on Zaka?
Bitcoin, the world’s most well-known cryptocurrency, has seen its worth plunge by 30% in the last 24 hours. This weeks-long downward trend has accelerated over the previous few days. From being traded at $49,498 on May 12, it fell to $30,201 on May 19.
The crash that has affected a number of cryptocurrencies — followed an announcement by Chinese regulators that they might be cracking down on cryptocurrencies on Tuesday. China has since barred financial institutions and payment companies within its borders from providing customers any services related to cryptocurrency transactions.