Crypto shaves $100B as geopolitical turmoil mounts

Senate Democrats have threatened to block a funding bill if it includes money for the Department of Homeland Security, making traders fearful of another possible US government shutdown.

Around $100 billion was wiped from the crypto market late on Sunday, as uncertainty around another potential partial US government shutdown caused traders to sell off.

Senate Democrats threatened to block a funding package if it included money for the Department of Homeland Security, which oversees Immigration and Customs Enforcement, after federal agents shot and killed a man in Minneapolis on Saturday.

“Democrats sought common sense reforms in the Department of Homeland Security spending bill, but because of Republicans’ refusal to stand up to President Trump, the DHS bill is woefully inadequate to rein in the abuses of ICE. I will vote no,” said Senate Democrat Leader Chuck Schumer.

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