Bitcoin millionaires ‘drop like flies’ as FTX fallout shakes crypto market

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By Charlie Conchie The number of bitcoin millionaires has plunged and scammers have filled their boots in the past year as the market is gripped by a ‘crypto winter’ brought on by soaring inflation and a string of high profile bankruptcies. Nearly £1.15tn ($1.4tn) was wiped from the value of the market in 2022 as soaring inflation and rate hikes sent investors scrambling for steadier ground. The sector was dealt a fresh blow in November when Sam Bankman-Fried’s exchange FTX imploded amid allegations of fraud and misuse of customer funds. Bitcoin, the most valuable crypto currency, plunged more…

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