Dhe crypto industry never rests. While since mid-June it seemed as if the situation had stabilized, Wednesday made the so-called “crypto winter” appear a few degrees colder again. The price of the best-known crypto asset Bitcoin slipped to less than $17,000, its lowest level in almost two years. Number two, Ethereum, fell a good 25 percent to well below $1,200, its lowest level since mid-July, when the prospect of a technical overhaul and improvement helped the cryptocurrency rally.
The reason for the price decline is renewed uncertainty as a result of the possible takeover of the crypto exchange FTX, which is one of the five largest internationally, by the market leader Binance. Above all, it is the accompanying circumstances that are causing an uproar in the industry. The leaders of FTX and Binance, Sam Bankman-Fried and Changpeng Zhao, “SBF” and “CZ” for short, are among the most prominent of the scene and have exchanged heated opinions on various topics over the past few months via the short message service Twitter to allegations of dubious trading practices.
