Evergrande Files For Bankruptcy, Bloodbath in Crypto

The world's most indebted developer, China Evergrande, has filed for Chapter 15 bankruptcy protection in the US in the latest chapter of the Chinese Real Estate Collapse saga. Elsewhere there was an inexplicable instantaneous selloff in Bitcoin and virtually every other cryptocurrency last night. Was this a widespread panic? A single whale dumping? A scammer rug pulling? Or could it be connected to large money laundering operations taking place overseas?

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