Doug Krizner

It tumbled below 64,000 as an unwinding of leveraged bets deepened.

Bitcoin lost more than 12% during New York trading, and Nobel laureate Paul Krugman says Bitcoin is facing a real crisis of faith.

That is Nobel laureate Paul Krugman speaking on Bloomberg Businessweek Daily.

Bitcoin has wiped out all of its gains since President Trump's election set off a speculative rush into cryptocurrencies.

Now, Bitcoin's plunge has rocked the digital asset complex, and few companies are more exposed than the Bitcoin treasury company Strategy Inc.

Today, after the bell, the company confirmed a net loss of $12.4 billion for the fourth quarter.

Shares in Strategy Inc.

were down by more than 2% in late U.S.

trading, but these shares have lost 45% of their value so far this year.

Rio Tinto Group is walking away from talks to acquire Glencore.

Such a deal would have created the world's largest mining company.

However, the two sides failed to agree on valuation.

Here is Bloomberg's Carmele Argana.

That is Bloomberg's Carmelia Argana.

Now, this deal would have also allowed Rio to double existing copper output.

President Trump has unveiled his TrumpRx website.

This is a direct-to-consumer platform, and it represents the Trump administration's effort to lower prescription drug costs in the U.S.

Here is Trump.

Now, the Trump administration has negotiated agreements with more than a dozen pharmaceutical companies to lower those drug costs.

In Tucson, Arizona, the search continues for Nancy Guthrie, who vanished from her home five days ago.