Cryptocurrencies plunge for 2nd straight day amid fallout over scrapped Binance, FTX merger | CBC News

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Cryptocurrency prices plunged for a second straight day after crypto exchange Binance said it was pulling out of a deal to purchase failing rival FTX Trading.

The Associated PressCryptocurrency prices plunged for a second straight day on Wednesday after crypto exchange Binance said it was pulling out of a deal to purchase failing rival FTX Trading.Bitcoin sank to a two-year low after Binance confirmed earlier rumours and news reports that it was ready to back out of the FTX deal, struck between the CEOs of the two exchanges on Tuesday. The deal was pending the ability of Binance to perform due diligence of FTX's balance sheet.

"In the beginning, our hope was to be able to support FTX's customers to provide liquidity, but the issues are beyond our control or ability to help," Binance said. The sudden sale was a shocking turn of events for FTX CEO and founder Sam Bankman-Fried, who was hailed as somewhat of a saviour earlier this year when he helped shore up a number of cryptocurrency companies that ran into financial trouble.

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귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

Send that to Poilievre he wanted everyone to invest in kripto.

The West is broke, crypto is crumbling and bricks nations are becoming the dominant world power. Our governments are failing us!

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Volatility spikes in the crypto market as Binance looks to acquire FTXThe crypto market went for an early morning plunge as BTC briefly dipped below $20,000 amid rumors of insolvency at the crypto exchange FTX. ⚡️
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