The collapse of FTX, one of the world’s top crypto exchanges, has been causing much concern and talk in the crypto world in recent hours.
Indeed, the price of FTT, FTX’s native token, has plummeted 85% to below $3.
This has consequently caused a crisis in the entire crypto market, leading to impressive declines for other prestigious coins as well, such as Bitcoin and Ethereum.
In this disastrous situation, many are wondering or seeking explanations for what happened to FTX, regarding the security of the token and the platform.
Most of all, the question arises, why shouldn’t what is happening to the FTX exchange happen on other platforms?
Why did FTX collapse? Here’s what happened
Let’s go back to 6 November, when the first difficulties were seen in the market for FTT, the FTX exchange token managed by Sam Bankman Fried.
Shortly before, Changpeng Zhao, CEO of Binance, had in fact publicly admitted his intention to close his $500 million position in the FTT token.
We współpracy z: https://en.cryptonomist.ch/2022/11/10/best-crypto-exchanges-during-ftx/
