Bank of England Governor Andrew Bailey reiterated his stance on cryptocurrencies, stating that the asset class has "no intrinsic value." The longtime crypto skeptic was testifying in the U.K. Parliament the day after lending platform Celsius suspended transfers and withdrawals, helping to send bitcoin (BTC) and the rest of the cryptocurrency sector into a tailspin. "Crypto assets have no intrinsic value. This morning we have seen another blow-up in a crypto exchange," Bailey said. Bailey's comments followed Celsius's decision Sunday night to halt transfers and withdrawals, citing extreme market conditions. Celsius ... (full story)