Prices of digital currencies fell again as the crisis engulfing the market deepened over the weekend. Bitcoin, the world’s biggest cryptocurrency, has plummeted about 65% so far this year. It was trading at about $16,500 on Monday, according to CoinDesk. Analysts believe that it could fall below $10,000. Ether, the world’s second most valuable cryptocurrency, isn’t faring much better. It was trading at about $1,230 on Monday, having sunk over 20% over the last week, CoinDesk data showed.
FTX, backed by elite investors like BlackRock and Sequoia Capital, rapidly became one of the biggest crypto exchanges in the world. Its collapse was preceded by the decision to lend billions of dollars’ worth of customer assets to fund risky bets by Alameda, Bankman-Fried’s crypto hedge fund, The Wall Street Journal reported on Thursday. A possible hack The Bahamas probe came a day after the bankrupt exchange said it was launching an investigation of its own.
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A man who donated millons to liberal causes went broke shocking
Plain and simple it's money. But will never be accepted by our government. Because it can not be manipulated. But we may need to if the dollar fails. Crypto is the best money. Perfect accounting. But we live in an imperfect world. So not a match yet.
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