BitcoinBTC -1.4%, ethereum, and the rest of the crypto market have been hard hit by a devastating price crash this year (and could be about to take another blow).
The bitcoin price has crashed to around $17,000, dragging down the price of ethereum, causing chaos for crypto companies and forcing Coinbase’s chief executive to issue a dire warning.
Now, following the shock collapse of major crypto exchange FTX, leaks have revealed the chief executives of some of crypto’s biggest companies fear the crypto crisis could destabilize the $65 billion dollar-pegged stablecoin tether—potentially playing havoc with the price of bitcoin, ethereum and other cryptocurrencies.
