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WEKU
WEKU
Business
David Gura

Crypto billionaire says Fed is driving current downturn

Sam Bankman-Fried FTX Crypto Bitcoin Cryptocurrency Liquid Interest Rates
Sam Bankman-Fried, co-founder and chief executive officer of FTX, in Hong Kong, China, on Tuesday, May 11, 2021. (Lam Yik/Bloomberg via Getty Images)

Cryptocurrencies are going through a spectacular crash and the head of one of the largest crypto exchanges says the Federal Reserve is responsible for this downturn.

"The core driver of this has been the Fed," said Sam Bankman-Fried, the CEO of FTX, whose app and sites are used by investors to buy and sell digital currencies.

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