Initial coin offerings (ICO)

Bitcoin and other cryptocurrencies are tanking

Cryptocurrency markets have plunged in the past week, with Bitcoin falling to its lowest level in over a year.

The bottom line: The recent drop has caused even market bulls like Fundstrat Global's Tom Lee to cut year-end forecasts.

Data: CoinDesk; Chart: Harry Stevens/Axios

ICO guidance and other crypto news this week

Illustration: Rebecca Zisser/Axios

The industry got a big win with Colorado's election of congressman and blockchain tech advocate Jared Polis as its new governor, but that's not all the news this week.

Catch up quick: A Securities and Exchange Commission official says "plain English" guidance on initial coin offerings is coming; Bitfury raised $80 million in new funding; and the SEC could target more token exchanges after EtherDelta.