Bitcoin advances Black Friday as a trigger with Binance and FTX’s “cryptomovid”

this blast (or at least one of them) for this Black Friday in advance, on this occasion, has been announced by Binanceeldest exchange The world has said it will buy its rival cryptocurrency exchange platform. FTXexperiencing liquidity problems.

As a result of this announcement, FTT entity crash The aforementioned company dropped at least 76% this Tuesday.

The domino effect in the cryptocurrency market

and the market cryptocurrencies, so he suffered severely, given the domino effect. Founder of Binance, Changpeng Zhaoreported this Tuesday that it has signed an agreement to acquire its alleged FTX business outside of the United States, Sam Bankman Fried, asked him for help and already warned that the platform’s token, FTT, will be very volatile. On Christian: he knew he was going to sink.

Binance CEO CZ statement, as it is known in the world, rumor mill around solvency FTX and other companies affiliated with the second company that will have a large amount of FTT on their balance sheets, which also affected their prices. Similarly, a not-so-distant trial began. terra-luna collapse.

The price of SOL, the native token of the blockchain SolariumAssociated with both FTX and Bankman-Fried’s cryptocurrency trading house, Alameda Researchalong with other project tokens based on this blockchain, it has recorded dramatic declines.

SOL fell 27% this Wednesday, which means this year’s losses have reached 90%. “SBF and FTX were the main sponsors of Solana,” he said on Twitter. Teng Yandigital asset research firm specialist DelphiDigital. “This era is over. Binance has taken over and will greatly favor the BNB chain over Solana,” he added.

“They will do the right thing to protect investors and the industry”

Despite many fears about similar recent scenarios that ended too badly for investors, Teong HngThe CEO of crypto investment firm Satori Research stated that “the situation is very volatile” and he is confident that these two crypto giants will “do the right thing to protect investors and the industry.”

However, the truth is that fear of paying After Zhao on Sunday showed his distrust of the platform’s digital currency and would liquidate his position In FTT, after $2.1 billion was withdrawn from the asset last year.

The question that many don’t ask, and that seems more relevant than it seems, is: Why did CZ announce the operation?

At the time of this writing, the FTX token is currently trading: €4.84last Monday the value was around 23 euros.

Disaster dragged on bitcoin and the entire crypto ecosystem. EtherThe second most important cryptocurrency by market cap, which hit over 1,600 euros a few days ago, it has been a little over a year ago. 20% drop within a week, most notably in the last 24 hours as a result of all these “cryptomovida”.

Danger: instant suspension of withdrawals

Specialized media CNBC reported this morning that FTX’s temporarily suspended withdrawals platform, a similar move to other cryptocurrency companies filing for bankruptcy this year, for example CentigradeVoyager Digital and the Three Arrows.

The paradox of the situation is that banker-friedOperating FTX from the Bahamas, where the platform is based, it has become a prominent name in the industry by acquiring bankrupt companies in recent months.

“This is a big setback for many crypto investors “Those who see SBF (Bankman-Fried) as a white knight and one of the leaders in the space that is expected to emerge once we get through this crypto winter.” Ed MoyaFrom the company Oanda.

By the way, “bitcoinmaniac” Michael Saylor, on his line: “Prices may change, players may change, but the song remains the same. #Bitcoin.” We assume that you will continue shopping in this new store. dip.

“Probably the worst in the first half of 2023 is yet to come. Buying in 2023 and selling in late 2024 is likely a gift to the generation” indicates Crypto Geronimostormy Crypto is one of Twitter’s coolest and most reliable analysts.