Cryptocurrencies slide as concerns over FTX exchange rattle markets

Published by
Reuters UK

SINGAPORE (Reuters) – Cryptocurrencies fell heavily on Tuesday and the native token of crypto exchange FTX collapsed by 15% as investors appeared to take fright at talk of pressure on FTX’s financials. Bitcoin, the biggest cryptocurrency by market value, was down 4% at $19,750 and was having its worst day in about two months. Ether, the next largest, fell 5%. FTX has come under pressure after the head of rival exchange Binance said on Sunday his firm would liquidate its holdings of the FTX token due to unspecified “recent revelations”. FTX founder Sam Bankman-Fried said the exchange was “fine”…

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