Has plunged more than 10% to a two-week low as concerns over a crackdown on currency markets have intensified as a result of increased scrutiny of Libra's digital currency Facebook plans to launch.
It fell 11.1 percent on Friday to $ 9,855 early Monday, its lowest level since July 2.
Politicians and financial regulators around the world have called for Libra currency scrutiny amid concerns ranging from consumer protection to privacy and potential regulatory risks given the global reach of the social media giant.
US President Donald Trump slammed my currency with the formation of Libra and other coded currencies last week, calling on companies to seek a banking charter and subject themselves to US and global regulation if they wanted to become a bank.
Tkwin, who was initially unaffected by the Trump tirade, declined after Federal Reserve Chairman Jerome Powell called for the Facebook project to be suspended until all concerns ranging from privacy to money laundering were addressed.
The currency rose by about 55% in nine days after Visbuk unveiled plans to launch Libra on June 18, its highest level in 18 months to reach about 14 thousand dollars. The project has bolstered hopes among some investors that the encoded currencies could gain wider acceptance.