Coin Metrics: on Tuesday, bitcoin fell 12.6% to $18,203 and briefly hit $17,300.80, its lowest level since November 2020; ether dropped 18.2% to $1,311.50 (Tanaya Macheel/CNBC)

Joanna Ossinger / Bloomberg:
Binance’s BNB token dropped 9% over the past month, even as bitcoin remains steady, after record outflows; BNB has jumped over 1,600% in the past three years  —  The native token of crypto exchange Binance Holdings Ltd. snapped a prolonged slide that was sparked in part by concerns about outflows …

Sunil Jagtiani / Bloomberg:
Crypto prices sink, with bitcoin dropping ~4% and ether ~7%, dragged down by the ongoing FTX saga, potential contagion, and the FTX hacker offloading ether  —  Cryptocurrency prices struggled Monday in the ongoing crisis sparked by the downfall of Sam Bankman-Fried’s once powerful FTX empire.

Sidhartha Shukla / Bloomberg:
A wallet linked to the suspected FTX hacker swapped ~$49M of stablecoins for ether, taking its haul to 228,523 ETH and becoming the 35th largest ETH holder  —  The hacker who raided Sam Bankman-Fried’s collapsed crypto exchange FTX is now one of the world’s biggest holders of the token Ether.

CoinDesk:
Binance CEO Changpeng Zhao plans to sell the remaining FTT tokens taken on from exiting FTX’s Alameda in 2021; Binance received ~$2.1B from the previous sale  —  Alameda’s CEO offered to buy Binance’s FTT token holdings for $22 apiece.  —  Binance’s CEO, responding to a CoinDesk scoop …

Binance Blog:
Binance CEO Changpeng Zhao says Binance is not a Chinese company and rejects suggestions of it being secretly run by a Chinese national, Guangying Chen  —  One of the many strengths that our employees at Binance must possess is thick skin.  After all, this industry is the subject of a lot …

Divya Balji / Bloomberg:
Coinbase’s stock closes down 10.78% and Robinhood Markets closes down 19.04% as the Binance-FTX deal spotlights the challenges facing the $1T crypto industry  —  Robinhood Markets Inc. tumbled by the most in more than a year after Binance Holdings Ltd. agreed to acquire Sam Bankman-Fried’s …