Following the approval of spot Bitcoin exchange-traded funds (ETFs), the crypto market has experienced a surprising downturn after FTX unloaded a staggering $1 billion worth of Grayscale Bitcoin Trust's (GBTC) shares. This unprecedented sell-off, attributed to the bankruptcy of the crypto exchange, has raised a concern about the broader implications for the crypto sector. According to a report by Coindesk, FTX is a significant contributor to the outflows amounting to more than $2 billion reported by GBTC. CoinDesk's data review unveiled that FTX disposed of 22 million shares, accounting for nearly $1 billion of the ... (full story)