Bitcoin's price plummeted to its lowest level in 16 months, while Uber was ordered to pay $8.5 million in a sexual assault case, and China overturned the death sentence of a Canadian citizen, according to multiple news reports. These events, alongside protests in Malawi over tax changes and severe weather across Europe and North Africa, dominated headlines.
The price of Bitcoin fell to $60,000, its lowest point since September 2024, despite public support for cryptocurrency from US President Donald Trump, according to BBC Technology. The drop followed months of rising prices, which saw the cryptocurrency reach an all-time high of $122,200 in October 2025. Joshua Chu, co-chair of the Hong Kong Web3 Association, told Reuters that investors who had "bet too big, borrowed too much or assumed prices only go up are now finding out the hard way what real market volatility and risk management look like."
In a separate development, a US court ordered Uber to pay $8.5 million to a woman who claimed she was raped by a driver. The ruling, reported by BBC Business, could influence thousands of other cases against the ride-sharing company. The federal lawsuit was heard in Arizona, where a jury found Uber responsible for the driver's behavior. Uber stated its intention to appeal the verdict.
Meanwhile, thousands of businesses in Malawi closed in protest over new tax changes. Demonstrations across the country's four main cities led to a delay in the introduction of a new tax regime that business owners feared would cripple their livelihoods, The Guardian reported. Tens of thousands of people signed petitions against the changes.
Storm Leonardo continued to batter Europe and northern Africa, bringing torrential rain and strong winds to Spain and Portugal, according to The Guardian. Spain's state meteorological agency issued its highest red alert for heavy rainfall in Cádiz and parts of Málaga. Flash floods in Morocco forced over 100,000 people to evacuate.
In a potential sign of a diplomatic thaw, China overturned the death sentence of Canadian Robert Lloyd Schellenberg, as reported by The Guardian. Schellenberg was detained on drug charges in 2014. A Canadian official confirmed the news on Friday, as Prime Minister Mark Carney sought to boost trade ties with Beijing.
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