On 's Website The Trouble with FTX and Alameda Solana (SOL), a crypto backed by FTX’s CEO Sam Bankman-Fried, is all in freefall, having shed more than 40% of its value in the past seven days. The slump has been much tougher on altcoins, with Ethereum (ETH) down nearly 18% over the past five days. But the big “B” has been in the “green” for the last 24 hours, gaining 3%. Bitcoin (BTC) is weathering the storm but is still down more than 17% over the past five days. At the heart of the issue is FTX’s native token, FTT, which has been eviscerated in a huge sell-off, plunging more than 80% in the past few days.įTX’s liquidity woes have spread contagion across the sector, as crypto investors fear another shoe will drop. The cause of this week’s seismic disruption: FTX, the world’s fourth-largest crypto exchange, which used to be an industry stalwart.įacing a rapidly worsening liquidity crunch, FTX is hunting for a solution to save the business. Crypto markets are in chaos once again, and the price of Bitcoin (BTC) has fallen more than 13% this week.

Bitcoin 2017 price chart