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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.
Coinbase and Kraken have been experiencing connectivity issues as FTT's slump dragged Bitcoin below its June lows of $18,000.
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.
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.
The wMarket Update condenses the most important price movements in the crypto markets over the reporting period, published 07:45 ET on weekdays.
Concerns around the liquidity of FTX and Alameda Research fueled contagion fears, bringing the crypto market down and causing huge liquidations.
