BINANCE TO ACQUIRE FTX IN EMERGENCY BAILOUT

There is never a dull day in crypto, FTX is just gone under crypto crashing. The CEO of Binance made a tweet that FTX ask for their help to protect liquidity crunch. FTX which is one of the biggest exchanges, the super start of the last bull run, the bog star of crypto, the one who is coming in and bailing Voyager is in trouble now. CZ will be buying one of its competitors after the crushing liquidity crunch where Binance sold off about $500 million worth of the FTT tokens, putting huge pressure on the FTX ecosystem.

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There is a lot of drama going on and this is a huge reminder for you not to keep your fund in an exchange platform. The CEO FTX also put out a tweet yesterday saying that it is a false rumor and that FTX is fine. If you look at the 4hr chart of the FTT token, it has dropped from $21 to $2.5 and is a 90% drop within a few hours. The price crash Solana dropped up to 40% because the market realize that CZ owns 10% of the coin that will rather support the BNB blockchain than Solana Blockchain.

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You have realized that FTX was all over the place, they invested in Solana and other coins. FTX gave a lot of support to the Solana ecosystem, FTX going under is a serious matter for the Solano Ecosystem. We have seen SOL drop from $31.5 to $20 when all the sad stuff was going on and this has gone across the crypto ecosystem. We are seen Matic drop from $1.24 to $0.9 and that is a 28% drop. Bitcoin also hit a new low of $17,166 yesterday and Ethereum hit a new low of $1,136 today.

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The big exchange controversy between FTX and Binance has caused a lot of trouble in the crypto market. The news today, FTX went under, and Binance comes out that they are buying it. There is a lot of volatility in the crypto market this year, and if you have survived in year crypto market as a crypto investor, definitely need a huge.

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