The FTX Collapse is The FTX-Led Decline Over?

The FTX Collapse is The FTX-Led Decline Over?

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The ongoing cryptocurrency bear market deepened further with the collapse of the crypto exchange FTX and its affiliated companies. After failing to reach a deal to be acquired by Binance, FTX filed for Chapter 11 bankruptcy protection in the United States on November 11. Just after filing for Chapter 11 bankruptcy in the US, an admin in FTX’s Telegram channel announced that the exchange had been hacked and $477 million was suspected to be stolen This entire saga hurt the already fragile sentiment in the crypto space. That brought down the entire crypto market capitalization to under $800 billion on November 10, according to coinmarketcap. Several crypto hedge funds and market makers are likely to take a big hit with the collapse of FTX and this has increased fears of contagion. Amidst the gloom and doom, Elon Musk gave hope to crypto investors when he said in a tweet on November 14 that “Bitcoin will make it, but might be a long winter.” KEY TRADING LEVELS BITCOIN - BTC/USD ETHEREUM - ETH/USD BINANCE - BNB/USD Top Content This Week! ADVANCEMENTS IN THE CRYPTOCURRENC LEDGER HARDWARE WALLETS HIT DIGITAL ASSET GLANT COINBASE Top Article This Week! TALENTIDO: FAIR TALENT REC XRPAYNET: REDFEINING CRYPTO INDU4.0 – POWERING THE MANUFACTURING Earnings Disclaimer The information you’ll find in this email is for educational purpose only. We make no promise or guarantee of income or earnings. You have to do some work, use your best judgment and perform due diligence before using the information in this email. Your success is still up to you. Nothing in this email is intended to be professional, legal, financial and/or accounting advice. Always seek competent advice from professionals in these matters. We also recommend that you check all UK laws to make sure you are in compliance when you create your online business. If you break the city or other local laws, we will not be held liable for any damages you incur

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