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FTX: Cryptocurrency market rocked by near-collapse of exchange

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The world's biggest cryptocurrency exchange said it reached a deal with FTX to cover a 'liquidity crunch'.

The digital assets market has been rocked by the near-collapse of one of the world's biggest cryptocurrency exchanges, FTX.

FTX's founder Sam Bankman-Fried and Binance's chief executive Changpeng "CZ" Zhao are two of the most powerful people in the cryptocurrency market and high-profile rivals.The pressure on FTX came in part from Mr Zhao, who tweeted on Sunday that Binance would sell its holdings of FTX's digital token, known as FTT.

 

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