The token has had a rough year, but in the wake of the FTX collapse, could there be a bottom in sight?
(Bloomberg) — Listen to Bloomberg Crypto on the iHeartRadio App, Apple Podcasts or Spotify.
Before chaos broke out in the crypto market with the collapse of FTX, a report by digital-assets researcher CryptoCompare found that Bitcoin’s value…was still dropping. It appeared the industry wasn’t just heading into winter, but a possible “Crypto Ice Age.”
Then the stunning downfall of crypto exchange FTX, which halted withdrawals and declared bankruptcy, and the resignation of its CEO Sam Bankman-Fried, sparked a wide-ranging market downturn with Bitcoin dropping from its previous plateau of around $20,000.
As the digital-asset industry continues to adapt to a post-FTX reality, what will it mean for Bitcoin’s value?
Bloomberg reporters Olga Kharif and Vildana Hajric join this episode to discuss.
Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter
This podcast is produced by the Bloomberg Crypto Podcast team: Supervising producer: Vicki Vergolina, Senior Producer: Janet Babin, Producers: Sharon Beriro and Muhammad Farouk, Associate Producers: Mo Andam and Ty Butler.
Sound Design/Engineer: Desta Wondirad.
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