FTX Token Falls 80% Despite Binance Bailout as Alameda Contagion Spreads to Bitcoin

To illustrate just how spectacular the FTT token price’s collapse has been, take a look at the following chart of the 10 biggest laggards over the past 24 hours in the “Transparent CeFi Currency” industry group, within the CoinDesk DACS. The industry group includes digital assets “distributed by a central entity and backed by a centralized reserve treasury (i.e., corporation, government, CBDC’s, centralized exchange),” according to the definition.