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7.2927L6.65685 0.928741C7.04738 0.538216 7.68054 0.538216 8.07107 0.928741C8.46159 1.31926 8.46159 1.95243 8.07107 2.34295L3.41421 6.99981L16 6.99981C16.5523 6.99981 17 7.44752 17 7.99981C17 8.55209 16.5523 8.99981 16 8.99981L3.41421 8.99981L8.07107 13.6567C8.46159 14.0472 8.46159 14.6804 8.07107 15.0709C7.68054 15.4614 7.04738 15.4614 6.65685 15.0709Z"></path></svg>Back</a><div class="sc-4fdbe080-0 iZdgQN title "><h1>Crypto Daily: FTX crisis causes a massive crypto market slump</h1></div></div><div class="time_date_block"><ul class="time_date"><li>Nov 09, 2022</li><li>05:11</li><li>2 min reading</li></ul><div class="author_block"><div class="author_image"><span style="box-sizing:border-box;display:inline-block;overflow:hidden;width:initial;height:initial;background:none;opacity:1;border:0;margin:0;padding:0;position:relative;max-width:100%"><span style="box-sizing:border-box;display:block;width:initial;height:initial;background:none;opacity:1;border:0;margin:0;padding:0;max-width:100%"><img style="display:block;max-width:100%;width:initial;height:initial;background:none;opacity:1;border:0;margin:0;padding:0" alt="" aria-hidden="true" src="data:image/svg+xml,%3csvg%20xmlns=%27http://www.w3.org/2000/svg%27%20version=%271.1%27%20width=%2720%27%20height=%2720%27/%3e"/></span><img alt="Choise.com team" srcSet="/_next/image?url=%2Fpic%2Fauthors%2Fchoise-team.png&w=32&q=75 1x, /_next/image?url=%2Fpic%2Fauthors%2Fchoise-team.png&w=48&q=75 2x" src="/_next/image?url=%2Fpic%2Fauthors%2Fchoise-team.png&w=48&q=75" decoding="async" data-nimg="intrinsic" style="position:absolute;top:0;left:0;bottom:0;right:0;box-sizing:border-box;padding:0;border:none;margin:auto;display:block;width:0;height:0;min-width:100%;max-width:100%;min-height:100%;max-height:100%"/></span></div><div class="author_name"><span class="dynamic_author"></span>Choise.com team</div></div></div><div class="content"><div class="main_image"><img title="Crypto Daily: FTX crisis causes a massive crypto market slump" alt="Crypto Daily: FTX crisis causes a massive crypto market slump" fetchpriority="high" width="1200" height="628" decoding="async" data-nimg="1" class="directus_image " style="color:transparent" srcSet="/_next/image?url=https%3A%2F%2Fcms.choise.com%2Fassets%2F6a0aea78-a37b-4ec2-b927-00102e8b4f36.png&w=1200&q=75 1x, /_next/image?url=https%3A%2F%2Fcms.choise.com%2Fassets%2F6a0aea78-a37b-4ec2-b927-00102e8b4f36.png&w=3840&q=75 2x" src="/_next/image?url=https%3A%2F%2Fcms.choise.com%2Fassets%2F6a0aea78-a37b-4ec2-b927-00102e8b4f36.png&w=3840&q=75"/></div><div class="content_block"><p class="">The crypto market is extremely bearish as the FTX crisis continues.</p><p class="">Bitcoin price fell by more than 8% in the last 24 hours being down more than 10% w-o-w. Ethereum is even more bearish than Bitcoin as it lost more than 11% in the last 24 hours. ETH has fallen by 17.5% in the last week and is facing the threat of plummeting below the $1.3K mark again.</p><p class="">Solana as on of the crypto to be most affected by the FTX crisis, is one of the biggest losers of the crypto market. SOL is down by 19.21% in the last 24 hours and by 31% in the last 7 days.Cardano remains one of the most volatile crypto assets with a drop by 5% in the last 24 hours.</p><p class="">Meme coins Dogecoin and Shiba Inu are also suffering. DOGE has fallen by 15% while SHIB is down by 8%.</p><p><a href="https://crpt.onelink.me/WpQ0/m81giloc">Buy crypto with zero fee for the first purchase</a>in Choise.com App or<a href="https://crypterium.onelink.me/jtmZ/deposits?app_screen=deposits">open a crypto interest account</a>and increase your HODLings.</p><h3><strong>Current Binance-FTX situation</strong></h3><p class="">The crypto market is struggling as Binance acquires its biggest competitor in FTX after Binance CEO CZ <a href="https://choise.com/news/dailyanalysis/binance-liquidates-ftt-holdings-doge-surges">revealed a liquidity crisis</a> in the FTX balance sheet.</p><p class="">Late Tuesday Changpeng Zhao has shared his take on “two big lessons” to be learned from the FTX saga.</p><p class="">In a tweet, CZ laid out two learnings after the significant “liquidity crunch” at FTX which has ultimately resulted in a non-binding letter of intent from Binance to acquire the struggling exchange.</p><p>“Two big lessons: 1. Never use a token you created as collateral. 2. Don’t borrow if you run a crypto business. Don’t use capital “efficiently”. Have a large reserve,” said Binance CEO. He also added that Binance has never used BNB for collateral, and has never taken on debt.</p><p class="">Earlier this week Zhao’s tweet confirming Binance’s FTT holdings liquidation ended up triggering what some called a “bank-run” on the exchange, with analytics platform CryptoQuant data revealing that FTX’s Bitcoin balance had fallen by 19,956 on November 7 alone.</p><p> </p><p><strong><a href="https://coinmarketcap.com/currencies/choise/">Follow Choise.com on CoinMarketCap</a>to stay updated.</strong></p></div></div><ul class="sc-a1b0f443-0 fTNNTN news_breadcrumbs"><li><a href="/news">News</a></li><li><a href="/news/dailyanalysis">Daily Analysis</a></li><li><span>Crypto Daily: FTX crisis causes a massive crypto market slump</span></li></ul><div class="sc-ebb48054-0 hCkBCM"><button class="react-share__ShareButton" style="background-color:transparent;border:none;padding:0;font:inherit;color:inherit;cursor:pointer"><img src="/pic/share/twitter.svg" alt="Crypto Daily: FTX crisis causes a massive crypto market slump"/></button><button class="react-share__ShareButton" style="background-color:transparent;border:none;padding:0;font:inherit;color:inherit;cursor:pointer"><img src="/pic/share/telegram.svg" alt="Crypto Daily: FTX crisis causes a massive crypto market slump - Telegram"/></button><button class="react-share__ShareButton" style="background-color:transparent;border:none;padding:0;font:inherit;color:inherit;cursor:pointer"><img src="/pic/share/facebook.svg" alt="Crypto Daily: FTX crisis causes a massive crypto market slump - Facebook"/></button></div></section></div></section></main><footer id="footer" class="sc-209759e9-0 hsjtRH"><div style="max-width:1200px" class="sc-7bf978d5-0 jWSTwu center_block "><div class="top_block"><div class="content"><div class="description"><div class="description_information"><p>The website and mobile apps are owned by the company Choise Services UAB. 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slump","date_created":"2022-11-09T05:16:50.000Z","image":{"filename_disk":"6a0aea78-a37b-4ec2-b927-00102e8b4f36.png","width":1200,"height":628},"old_image":null,"seo_image":null,"category":{"id":"82","title":"Daily Analysis","slug":"dailyanalysis","translations":[{"title":"Daily Analysis","seo_title":null,"seo_description":null,"seo_keywords":null}]},"translations":[{"title":"Crypto Daily: FTX crisis causes a massive crypto market slump","content":"\u003cp class=\"\"\u003eThe crypto market is extremely bearish as the FTX crisis continues.\u003c/p\u003e\u003cp class=\"\"\u003eBitcoin price fell by more than 8% in the last 24 hours being down more than 10% w-o-w. Ethereum is even more bearish than Bitcoin as it lost more than 11% in the last 24 hours. ETH has fallen by 17.5% in the last week and is facing the threat of plummeting below the $1.3K mark again.\u003c/p\u003e\u003cp class=\"\"\u003eSolana as on of the crypto to be most affected by the FTX crisis, is one of the biggest losers of the crypto market. SOL is down by 19.21% in the last 24 hours and by 31% in the last 7 days.Cardano remains one of the most volatile crypto assets with a drop by 5% in the last 24 hours.\u003c/p\u003e\u003cp class=\"\"\u003eMeme coins Dogecoin and Shiba Inu are also suffering. DOGE has fallen by 15% while SHIB is down by 8%.\u003c/p\u003e\u003cp\u003e\u003ca href=\"https://crpt.onelink.me/WpQ0/m81giloc\"\u003eBuy crypto with zero fee for the first purchase\u003c/a\u003ein Choise.com App or\u003ca href=\"https://crypterium.onelink.me/jtmZ/deposits?app_screen=deposits\"\u003eopen a crypto interest account\u003c/a\u003eand increase your HODLings.\u003c/p\u003e\u003ch3\u003e\u003cstrong\u003eCurrent Binance-FTX situation\u003c/strong\u003e\u003c/h3\u003e\u003cp class=\"\"\u003eThe crypto market is struggling as Binance acquires its biggest competitor in FTX after Binance CEO CZ \u003ca href=\"https://choise.com/news/dailyanalysis/binance-liquidates-ftt-holdings-doge-surges\"\u003erevealed a liquidity crisis\u003c/a\u003e in the FTX balance sheet.\u003c/p\u003e\u003cp class=\"\"\u003eLate Tuesday Changpeng Zhao has shared his take on \u0026#8220;two big lessons\u0026#8221; to be learned from the FTX saga.\u003c/p\u003e\u003cp class=\"\"\u003eIn a tweet, CZ laid out two learnings after the significant “liquidity crunch” at FTX which has ultimately resulted in a non-binding letter of intent from Binance to acquire the struggling exchange.\u003c/p\u003e\u003cp\u003e\u0026#8220;Two big lessons: 1. Never use a token you created as collateral. 2. Don\u0026#8217;t borrow if you run a crypto business. Don\u0026#8217;t use capital \u0026#8220;efficiently\u0026#8221;. Have a large reserve,\u0026#8221; said Binance CEO. He also added that Binance has never used BNB for collateral, and has never taken on debt.\u003c/p\u003e\u003cp class=\"\"\u003eEarlier this week Zhao\u0026#8217;s tweet confirming Binance\u0026#8217;s FTT holdings liquidation ended up triggering what some called a “bank-run” on the exchange, with analytics platform CryptoQuant data revealing that FTX’s Bitcoin balance had fallen by 19,956 on November 7 alone.\u003c/p\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003ca href=\"https://coinmarketcap.com/currencies/choise/\"\u003eFollow Choise.com on CoinMarketCap\u003c/a\u003eto stay updated.\u003c/strong\u003e\u003c/p\u003e","short_content":"BTC fell by more than 8% in the last 24 hours, ETH lost 11%, SOL is down by 19%, ADA dropped by 5%, DOGE and SHIB lost 15% and 8% respectively. ","seo_title":null,"seo_description":"Stay up-to-date with the latest crypto news and market analysis with Choise Daily Analysis. In this section, read about the impact of the FTX crisis on the market, G20's crypto regulations, JP Morgan's predictions on the crypto slump, and more.","seo_keywords":null}]}},"__N_SSP":true},"page":"/news/[category]/[slug]","query":{"category":"dailyanalysis","slug":"ftx-crisis-market-slump"},"buildId":"RKgYh-0qmJ0xjjY9b-Nhm","isFallback":false,"isExperimentalCompile":false,"gssp":true,"locale":"en","locales":["en","es"],"defaultLocale":"en","scriptLoader":[]}</script></body></html>