11 November 2022 | Technology

Cryptocurrency decreases amid the continuing problems with FTX

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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