$640 Million Liquidated Amid Binance-FTX Fiasco, FTT Drops Below $7
The crypto market is dumping after Binance announced its acquisition deal with FTX, with FTT suffering major losses. Over $640 million in trades have been liquidated from crypto markets in the aftermath of FTX’s drama with Binance. Markets experienced a brief rally after Binance announced its intention to buy FTX.
According to Coinglass, over $640 million in liquidations have taken place in the last 24 hours, with $182 million liquidated in the past hour alone. Over $10 million in liquidations have occurred on FTX Token (FTT) trades. With over $3 million worth cleared in the past hour. Binance has now agreed to buy out FTX to help it navigate its “liquidity crunch.” FTX suffered overwhelming withdrawal demand earlier this week, and seemingly stopped processing withdrawals entirely on Tuesday.
Source
https://t.me/Cash_Blockchain_News
