FTX’s flagship crypto coin, FTT, crashed due to the stock market crash, losing 80% of its value. BlockFi suspends withdrawals due to FTX disruption.
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FTX’s flagship crypto coin, FTT, crashed due to the stock market crash, losing 80% of its value. BlockFi suspends withdrawals due to FTX disruption.
Several cryptocurrencies have experienced significant crashes. Notably:
1. Terra (LUNA): In May 2022, the collapse of its algorithmic stablecoin, UST, led to a dramatic decline in LUNA’s value.
2. Bitcoin (BTC): Bitcoin has seen several crashes, with notable drops occurring in late 2017 and early 2021.
3. Ethereum Classic (ETC): This cryptocurrency has also faced significant price drops, particularly after the DAO hack in 2016.
These crashes often result from market volatility, regulatory news, or broader economic factors.