Why Cryptocurrencies Dropped Like a Rock This Week
Cryptocurrencies have had a bad week in general, as the industry's worst side gets unending media attention. Sam Bankman-Fried's trial is putting both crypto and its most infamous person in the spotlight -- and a lot of investors and lawmakers are saying they don't want any part of it.
While most tokens are down, there are four leading the market's losses. Polygon (CRYPTO: MATIC) is down 9.2% over the past week, Polkadot (CRYPTO: DOT) has fallen 9.3%, Arbitrum (CRYPTO: ARB) has fallen 10%, and Avalanche (CRYPTO: AVAX) has declined 14.6%, according to data provided by S&P Global Market Intelligence.
Sam Bankman-Fried's trial has been all over the news, social media, and on podcasts this week, reminding everyone of the worst side of the crypto industry. And the timing for companies involved couldn't be worse.
Source Fool.com
