The spectacular collapse of 30-year-old Sam Bankman-Fried’s crypto empire has fueled a spike in outflows across global crypto exchanges. Users yanked a net $3.7 billion worth of Bitcoin and $2.5 billion of Ether in the week from Sunday, Nov. 6 to Sunday, Nov. 13, according to data provider CryptoQuant.
U.S. Congressman Tom Emmer said in a tweet that he had received reports that the SEC chairman Gary Gensler was allegedly helping Sam Bankman-Fried and FTX “work on legal loopholes to obtain a regulatory monopoly.”
They withdrew more than $2 billion worth of many of the largest stablecoins over the same timeframe, according to CryptoQuant, which tracks data from most major exchanges.
0:00 FTX News Live.
5:00 Crypto Alert.
10:00 FTX Sam Bankman Fried Crypto Regulations.
15:00 FTX Update’s.
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