Bitcoin crashes below $17,000 after Binance cancels FTX acquisition
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Bitcoin was trading at $16,670 on Binance as of 06:00 GMT, and $16,716 on Coinmarketcap.
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Bitcoin went below $16,000 for the first time since November 2020.
Bitcoin has recovered marginally after falling below $16,000 as a result of the rejected purchase transaction between the largest cryptocurrency exchange Binance and its competitor FTX, as per trading statistics on Thursday.
Bitcoin was trading at $16,670 on Binance as of 06:00 GMT, and $16,716 on Coinmarketcap.
Following Binance's announcement on its website that the acquisition of FTX would not take place, Bitcoin went below $16,000 for the first time since November 2020.
Binance said on November 6 that it would sell its FTT, an FTX-issued token, due to a low FTX balance. In response, FTX CEO Sam Bankman-Fried asserted that FTX maintains "audited financials" and that the media only spread "unfounded rumors."
