FTX Exchange’s founder and CEO Sam Bankman-Fried offered a reassuring perspective on this year’s plummet in crypto asset prices on Monday, arguing at the SALT conference in New York that the decline was part of a broader sell-off on Wall Street.
“Everything's down this year because dollars are up this year,” Bankman-Fried, a multibillionaire and crypto industry heavyweight, told interviewer and one-time Donald Trump press secretary Anthony Scaramucci at the conference, which is focused on “disruptive innovation.”
Since the start of this year, prices in crypto assets have declined by over 60 percent. Bitcoin plummeted from its high of roughly $68,000 in November 2021 to just over $22,000, with Ethereum joining the free-fall from $4,891 to $1,752 today.
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