Business Maverick: Crypto markets sag as funds drained from FTX switch out of Ether

The largest token Bitcoin has shed about 2.5% over two days, while second-ranked Ether is roughly 6% lower. Meme token Dogecoin – an arbiter of the most speculative animus in an already racy digital playground – is down 12%.owed

Crypto lender BlockFi Inc could be next: people with knowledge of the matter said last week that it’s preparing to“The FTX issues are really an urgent reminder of the need for regulatory clarity and a real regulatory framework for crypto,” Christian Catalini, founder of the MIT Cryptoeconomics Lab, said on Bloomberg TV.

Ether has underperformed Bitcoin over the past couple of sessions in part amid speculation that some of the $663-millionThe person or entity that raided FTX emerged last week as one of the world’s biggest holders of Ether, with a haul of about $288-million.

Source: News Formal (newsformal.com)

Hopefully the adverts that see encouraging small and large investors will disappear. People have lost life savings to this well presented scam.

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