Crypto Markets Extend Drop as Doubts About FTX-Binance Deal Grow
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Cryptocurrencies extended declines as Binance’s potential takeover of FTX highlighted how strains in the industry are now buffeting some of its top players.
Cryptocurrencies extended declines as Binance's potential takeover of embattled rival exchange FTX highlighted how strains in the digital-asset industry are now buffeting some of its top players. Bitcoin, the largest token by market value, fell as much as 5.4% on Wednesday after a near-10% decline a day earlier and was trading at about $17,700 as of 9:50 a.m. in London. Just about every digital coin was struggling: Ether, Solana, Polkadot, Avalanche, and meme token Dogecoin all dropped. Binance Chief Executive Officer Changpeng “CZ” Zhao stunned the crypto world on Tuesday with an announcement that his firm was moving ...