FTX chief Sam Bankman-Fried says Fed driving crypto downturn

New Delhi: Cryptocurrencies are plummeting spectacularly, and the CEO of one of the top crypto exchanges claims the US Federal Reserve is to blame.

“The core driver of this has been the Fed,” Sam Bankman-Fried, the CEO of crypto exchange FTX, told NPR.

According to Bankman-Fried, the Fed’s aggressive stance to hike interest rates in a bid to combat excessive inflation has resulted in a “recalibration” of risk expectations.