Cryptocurrencies
Crypto Billionaires’ Brawl Triggers Contagion Fears in Markets
- FTX’s native token FTT plunged as much as 32% on Tuesday
- Wider crypto markets swept along with Bitcoin also falling
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After a few months of calm, crypto markets are again facing fears of the kind of turmoil that ravaged digital assets in May and June.
Bitcoin and other cryptocurrencies suddenly tumbled on Tuesday in Asia, driven by questions surrounding the balance sheet of Alameda Research, billionaire Sam Bankman Fried’s crypto trading house. Investors kept pulling assets from FTX, the exchange Bankman-Fried also runs, and sent its native token FTT diving as much as 32%.