Binance chief Chao is in an interview with the FT:

  • full impression of meltdown at rival crypto alternate FTX had but to be felt
  • warns of cascading crypto disaster

Bitcoin is buying and selling down -$237 at $17,353. The low reached $15,632. In the meantime the FTX token FTT is buying and selling at $3.27 that is down $0.08 or -2.39%. It traded as little as $1.07 on Wednesday. The low worth at present reached $2.23.

JPMorgan has stated there generally is a cascading of margin calls just a few weeks in the past

Attention-grabbing feedback from the pinnacle of a crypto alternate.