Bitcoin’s 87%, Caused by Sam Bankman-Fried's Alameda

Employee claims a trader at the firm punched which led to bitcoin's 87% drop on Binance.

Alameda Research was behind the hiccup caused bitcoin prices to temporarily drop over 87%.

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Ex-employee who has started to reveal the inside workings of Sam Bankman-Fried's.

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Bitcoin traders on the crypto exchange Binance were left scrambling after the asset plunged.

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Bitcoin prices fell from around $65,760 to as low as $8,200 at 11:34 UTC.

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Bitcoin prices quickly bounced back up to almost exactly where it was before.

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CoinDesk at the time of the crash was due to a bug in the trading systems of “institutional traders.”

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Disgraced trading firm Alameda was behind the hiccup that caused BTC to temporarily drop over 87%

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