Track FTX news, including bankruptcy updates, creditor repayments, court rulings, asset recovery, and the lasting impact of the collapse.
FTX's insolvency is questioned as it stops transactions for two hours, the Bitcoin risk signal turns red, and more in this edition of CryptoSlate Wrapped Daily.
Zeynep Geylan 5 min read 
CZ also suggested that all cryptocurrency exchanges do merkle-tree proof-of-reserves. According to the CEO, fractional reserves are suited to traditional banks and not crypto companies.
Based on the current FTX situation, the Binance CEO also predicted that FTX's FTT would be extremely volatile in the near future.
Bitcoin failed to hold onto a key psychological level as the crypto markets see red.
Following Binance's CEO's announcement that Binance will liquidate its FTX native token FTT, there has been a massive sell-off.
The FTX native token FTT recovered over 44% after the announcement FTX.COM would be acquired by Binance. The token then retraced by 23% to $15.90 at press time.
Binance announced that it intends to fully acquire FTX to protect its users from a liquidity crunch.
The crypto market tanks as users exit positions following speculation over the unsoundness of the FTT token.
FTX hasn't processed any transactions on the Ethereum blockchain in over two hours, sparking rumors of insolvency.
