Crypto wrap: Bitcoin falls after Sam Bankman-Fried’s conviction in the US

The cryptocurrency market was in the red after the conviction of Sam Bankman-Fried, founder of crypto exchange FTX. On Friday, Bitcoin fell over 3 per cent and was trading around $34,300, according to CoinMarketCap. Ethereum was down 2.2 per cent and was trading below $1,800.

In the last week, both the tokens have made minor gains. Bitcoin was up 0.59 per cent and Ethereum rose 0.28 per cent. The markets had begun the market on a high amid a rate hike pause by the US Federal Reserve.