First Mover Asia: Mark Karpeles’ UnGox Wants to Help Investors Assess the Risks of Crypto Products; Bitcoin Drops Below $40K

Bitcoin recently fell below $40,000, a more than 5.4% drop over the past 24 hours and down from highs at the end of March above $47,000. Ether, the second-largest crypto by market cap, was trading slightly over $3,000 – a more than 6% decline over the same period – after dropping below this threshold earlier in the day for the first time since the middle of last month. Other major altcoins fared even worse, with Terra’s LUNA token, SOL and ADA all in the red by double digits. Meme coins DOGE and SHIB also were beaten down significantly. Trading was light.