The price of Bitcoin is now below $17,000—the first time that the asset has dropped that low since November 2020. It’s been a volatile week for crypto assets, as the market reacts to the news that one of the biggest exchanges on the planet, FTX, was apparently insolvent. Binance, the world’s biggest digital asset exchange by volume, announced yesterday that it had agreed to acquire FTX in what would amount to a bailout for the company founded by Sam Bankman-Fried. The markets have swung wildly in the hours since. Bitcoin today has traded for nearly $18,000 but is now firmly below the $1 ...
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