Cryptocurrency Price Today: Sam Bankman-Fried Found Guilty Of FTX Fraud; Bitcoin Price Falls 3%

The cryptocurrency market traded in the red on Friday as investors' sentiments were low after crypto tycoon and former FTX founder Sam Bankman-Fried was found guilty of multi-billion dollar FTX fraud. On Thursday, SBF was convicted of stealing from customers of his now-bankrupt cryptocurrency exchange in one of the biggest financial frauds on record, a verdict that cemented the 31-year-old one known as former billionaire's fall from grace, said a Reuters report.

Bitcoin price on Friday fell 2.92% at Rs $34,692.89 per token. According to CoinMarketCap data Bitcoin has a market capitalization of $677,512,091,869. Ethereum price was down 3.53% at $1,797.65 per token. Ethereum's market capitalization as of today is $216,207,092,543.

According to Reuters, a 12-member jury in Manhattan federal court convicted Bankman-Fried on all seven counts he faced after a monthlong trial in which prosecutors made the case that he looted $8 billion from the exchange's users out of sheer greed.

The global crypto market cap was 3.15% lower at $1.28 Trillion. The total crypto market volume over the last 24 hours is $49.59 Billion, down 11.34%. The total volume in DeFi is currently $5.08 Billion, 10.25% of the total crypto market 24-hour volume. The volume of all stable coins is now $44.49 Billion, which is 89.70% of the total crypto market 24-hour volume.

How are meme coins performing today?

Meme currencies mostly traded lower today.

Dogecoin: The price of Dogecoin fell 3.86% at $0.0672 per token on Friday. Dogecoin has a market cap of $9.52 Billion.

Shiba Inu: Shiba Inu price traded 4.07% lower at $0.000007735 per token. At this price, the meme currency Shiba Inu has a market cap of $4.56 billion.

Pepe Coin: The price of Pepe Coin (PEPE) was down 12.12% at $0.000001058 per token on Friday.

How Are Other Altcoins Performing Today?

XRP:

Ripple's XRP price fell 2.35% at $0.5986 on Friday. XRP is ranked number 5 out of all 8,822 active cryptocurrencies listed on CoinMarketCap.

Cardano:

Cardano price was up 1.41% at $0.3166 per token at the time of writing this article.

Solana:

Solana price plummeted 8.52% at $38.74 per token at the time of writing this copy. Solana is the world's 7th largest cryptocurrency in terms of market cap.

Polkadot:

Polkadot price fell 5.57% at $4.52 per token on Friday.