Crypto bulls received an uppercut to the face in the form of a news-driven sell-off. On days like this, it’s typically one glaring headline that will send the market tumbling (China banning ICOs, Korea’s regulations, etc.), but today, we got two. First, FB announced they would no longer allow any cryptocurrency, Bitcoin or ICO-related ad on the social media platform. In my opinion, this is actually a good thing for the market. The crypto market as a whole is sort of the wild west right now, and until that changes, a lot of investors (and big money) are likely to stay on the sidelines. Next, we have rumors of the CFTC subpoenaing Bitfinex and Tether.