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Bitcoin Plummets in Another Crypto Confidence Crisis

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The Street

By Luc Olinga Cryptocurrency market drops 11% in 24 hours as questions about crypto firms’ solvency mount. The crypto industry is plunged into a new crisis of confidence. As cryptocurrency prices began to stabilize, fresh drama derailed the sense of relief that was finally settling into the crypto market this year. The consequences and implications of this drama are still far from being established as the shock is colossal. Sam Bankman-Fried, who emerged this summer as the savior of crypto firms on the verge of bankruptcy, agreed within 24 hours to sell his empire to his great rival Changpeng …

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