Market Plummets as FTX Saga Unravels; US Lawmakers Call for Stricter Regulation
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US stocks captured the best weekly performance since June last week, extending a rally sparked by a slowdown in inflation data. The dollar remained weak for the fourth consecutive week, posting the longest streak since March 2020. However, in the crypto market, massive selloffs continued into the weekend, after Bankman-Fried’s crypto empire filed for bankruptcy last Friday, alongside more than 130 entities with ties to it.