Cryptocurrencies Plummet As Binance Scraps Deal For Rival Exchange FTX

FTX, a major crypto exchange owned by Sam Bankman-Fried, faced financial collapse after a failed sale to Binance. This instability caused significant losses in the crypto market, with Bitcoin and Ethereum experiencing sharp declines. The events have raised concerns about the long-term viability of cryptocurrencies.

Who is the owner of the crypto exchange FTX?

• Sam Bankman-Fried

• Elon Musk

• Vitalik Buterin

• Changpeng Zhao

What was the valuation of FTX at its peak?

• $50 billion

• $32 billion

• $20 billion

• $10 billion

Which company backed out of the deal to buy FTX?

• Binance

• Kraken

• Gemini

• Coinbase

By what percentage did Bitcoin's value drop in the last 24 hours?

• 5%

• 10%

• 15%

• 20%

What is the percentage drop in Ethereum's value mentioned in the transcript?

• 12%

• 20%

• 17%

• 15%