Cryptocurrencies faced significant turbulence today due to the Chinese AI platform DeepSeek. Bitcoin $101,056 plummeted to $97,777, while NVIDIA suffered losses amounting to hundreds of billions. U.S. markets witnessed a wipeout of nearly $1 trillion, with cryptocurrencies seeing close to $1 billion in liquidations. What is happening?
Did DeepSeek Collapse?
As this article was being prepared, the platform announced it was under heavy attack. DeepSeek has had to pause its services and is implementing measures to address the situation. Currently, it has closed new member registrations to limit the attacks.
“Due to large-scale malicious attacks on DeepSeek’s services, we are temporarily limiting registrations to ensure continuity. Existing users can log in as usual. Thank you for your understanding and support.”
DeepSeek, which emerged as a competitor to Ch…
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