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Bitcoin fell below $ 50,000 on Friday amid a wider sell-off of cryptocurrencies following news that US President Joe Biden is considering raising the tax on capital gains.


Biden's tax hike could affect cryptocurrency investors, who are subject to a capital gains tax if they hold the cryptocurrency for more than 12 months.


Robinhoud Crypto appoints Kristen Brown as Chief Operating Officer


Robinhood Corporation announced Thursday the appointment of Kristen Brown as Chief Operating Officer (COO) at Robinhood Crypto.


“Robinhoud Crypto is a big part of our effort to expand access to financial services and democratize finance for all. Christine will help us accelerate this important work, expand our offerings and provide the best possible customer service,” the financial services company stated and noted that her job will be to oversee all crypto and compliance processes .



Brown will also retain her role as Vice President of Product Operations at Robinhood Markets.


On the trade front, Bitcoin lost 4.13% to $ 49,600 or more than 8% in the previous 24 hours at 1:37 AM ET.Meanwhile, Ether fell by more than 7% to $ 2,227.90 at the same time on Bitfinex.


Tags: Bitcoin, cryptocurrencies,




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