The cryptocurrency market is melting down. But it’s also in the deep freeze of the winter.
November was a catastrophic month for crypto, even by its own volatile standards. FTX, one of the biggest and fastest crypto exchanges in the world, rocked the crypto world to its core when it filed for bankruptcy Nov. 11. Bitcoin’s price dropped from over $20,000 to under $16,000 in a matter of days, and it still hasn’t recovered. Ethereum saw a similar decline, falling from above $1,600 to below $1,200 as the drama unfolded.
And the fallout isn’t done yet.
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