Barron's: FTX Sends Crypto Reeling. The Whales Move in to Profit
Still, buying the dip looks risky. FTX’s collapse raises fundamental questions about the future of crypto, from the role of unregulated exchanges and brokerages to how tough regulation will be. Bets seem centered on Bitcoin, the closest thing crypto has to a blue-chip asset. Other tokens have been hit harder. Alt-coin Solana, for one, has lost nearly $9 billion of market cap as its token plunged 66% in price. Forced selling of more tokens, including Bitcoin, may be coming as the fallout from FTX spreads.
Barrons2022/11/21 06:13