FTX fiasco sparks billions of dollars of outflows from exchanges

​The spectacular collapse of 30-year-old Sam Bankman-Fried's crypto empire has fueled a spike in outflows across global crypto exchanges.

They withdrew more than $2 billion worth of many of the largest stablecoins over the same timeframe, according to CryptoQuant, which tracks data from most major exchanges. 

The past week has “undoubtedly been one of the darkest in the history of cryptocurrency,” said Sasha Ivanov, founder of blockchain platform Waves, in a statement. “It's disheartening to see the value of this fundamental technology diminished due to the collapse of what many felt was a leading exchange.”