Sollet Bitcoin (soBTC), a so-called “wrapped” asset supposedly backed 1-to-1 with bitcoin, plummeted $10,000 at around 2:00 p.m. ET, according to decentralized finance protocol Raydium. It had already spent much of the day trading below its bitcoin peg on the news that FTX had filed for bankruptcy protection.
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November 12, 2022 at 02:47AM
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Solana’s Wrapped Bitcoin Price Craters, Recovers After FTX Shuts Exit Ramp - CoinDesk
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