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11 November 2022 | Other

Cryptocurrency decreases amid the continuing problems with FTX

ETHUSD
BTCUSD

On Friday, cryptocurrency prices dropped, although other volatile assets became more expensive despite the inflation in the USA. This is a domino effect provoked by the fall of FXT.

According to the head of trading at digital-asset exchange Independent Reserve in Sydney John Toro, currently, many risks are related to other cryptocurrencies, and it takes a long time to overcome them. They appeared after the FTX-Alameda crash. Meantime the market is highly vulnerable.

There is information that the founder of FTX Sam Bankman-Fried is being investigated by the US Securities and Exchange Commission, and crypto lender BlockFi removed the opportunity to withdraw cash because of unrest.

Probably, such uncertainty will last for a long time in the cryptocurrency market.



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