Bitcoin’s 87% Drop in 2021 Was Caused by Sam Bankman-Fried's Alameda, Ex-Employee Claims

From coindesk.com

Disgraced trading firm Alameda Research was behind the hiccup that caused bitcoin (BTC) prices to temporarily drop over 87% in 2021, as per an ex-employee who has started to reveal the inside workings of the Sam Bankman-Fried's company. On Oct. 21, 2021, Bitcoin traders on the crypto exchange Binance.US were left scrambling after the asset plunged within minutes, with no apparent reason, while other bitcoin markets operated normally. As previously reported, bitcoin prices fell from around $65,760 to as low as $8,200 at 11:34 UTC (7:34 a.m. ET), then quickly bounced back up to almost exactly where it was before. A ... (full story)