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    Reports of Problems at Crypto Exchange Send Bitcoin Tumbling

    Binance cites ‘irregularities in trading activity’; SEC warns of risks surrounding such exchanges

    The virtual currency bitcoin continues surging to new highs as a frenzy of investors get in on the action. WSJ's Paul Vigna explains what you need to know, and how to invest should you want to join the mania. Photo: Alexander Hotz/The Wall Street Journal.
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    Prices for bitcoin and other cryptocurrencies fell sharply on Wednesday after reports emerged about a major bitcoin exchange having problems executing orders.

    Bitcoin fell from about $10,700 to $9,500 in about an hour, beginning around 12 p.m. ET. Later in the afternoon, it recovered to around $9,790, down about 9% on the day. Earlier, the Securities and Exchange Commission released an investor alert about the risks of using crypto exchanges.

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