FTX fallout: Crypto markets on the back foot as investors pull funds

Investors continue to pull funds from digital-asset exchanges despite the latter's efforts to reassure markets about their stability.

Photo: Bloomberg
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Sam Bankman-Fried’s bankrupt FTX crypto exchange owes its 50 top unsecured creditors a total of $3.1 billion. FTX Trading Ltd. and about 100 affiliated companies are starting a strategic review of global assets.
 
Investors continue to pull funds from digital-asset exchanges despite the latter’s efforts to reassure markets about their stability. Crypto lender BlockFi Inc. is on the cusp of its own Chapter 11 filing. 

Crypto markets are on the back foot, holding Sunday losses that have pushed Bitcoin -- the largest token -- to about $16,000. Second-ranked Ether is also struggling amid indications that some of the $663 million

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First Published: Nov 21 2022 | 8:29 AM IST

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