Last Updated on November 21, 2022 by Bitfinsider
Bitcoin held near a one-week low on Monday, while other major cryptocurrencies fell substantially, as the market continues to feel the effects of FTX’s precipitous collapse.
At 3:40 a.m. ET, Bitcoin was down 3.6% to $15,990.89, according to CoinDesk data. Ether decreased by 7% to $1,120.61.
John Ray, the new CEO of FTX, stated on Saturday that the exchange is considering selling or restructuring its global empire.
The corporation owes approximately $3 billion to its major creditors.
It is unknown how the FTX tale will conclude and whether there will be further industry-wide contagion, keeping crypto markets on edge.
CNBC quoted Vijay Ayyar, vice president of corporate development and international at cryptocurrency exchange Luno, as saying, “The market is in a wait-and-see mode to see whether there are any other organizations that could fall due to FTX exposure.”
Numerous high-profile crypto flops this year have harmed investors and produced substantial ripple effects.
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