Why did Robinhood Markets stock fall today? FTX woes spill over to crypto

Robinhood Markets (NASDAQ:HOOD) stock slumped 20% in Tuesday trading after reports of a liquidity crunch at Sam Bankman-Fried's cryptocurrency exchange at FTX sent bitcoin (BTC-USD), ethereum (ETH-USD), and other crypto prices down.
Bitcoin (BTC-USD) slid 12% at ~4:01 PM ET to $18.2K. Ether (ETH-USD) sank 17% to $1.31K.
In Q3 2022, crypto transaction-based revenue was $51M, accounting for ~14% of the fintech's $361M net revenue for the quarter.
Most other crypto-related stocks also dropped dramatically. BIT Mining (BTCM) fell 13%, Hut 8 Mining (HUT) -13%, Core Scientific (CORZ) -15%, MicroStrategy (MSTR) -21%, Silvergate Capital (SI) -24%, and Coinbase Global (COIN) -11%.
Earlier, bitcoin (BTC-USD) sank below $20K as FTX Token at heart of FTX-Alameda drama tumbled