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It's been a rough week for crypto. BTC's crashed to a wretched just over 16k, ETH's down to a miserable 1.2k and everyone's beloved DOGE sits and wags its adorable tail at a mere 8 cents. Wipeout across the board. So what happened? Several things, not least the collapse of the ponzi laundromat FTX exchange. Here's a helpful infographic:
Word to the wise, don't put more in than you can afford to lose and while you're at it, think about getting tokens off of exchanges and into secure wallets. That said and for what little it's worth, I'm long crypto and see an opportunity to buy at bargain basement prices, but caveat emptor, buyer beware. Do you dare reach out and catch the falling knife?
Money on the monkey and twice as fast, eh?
Cheers,
LSP
