Crypto crisis continues. Here’s the latest on the FTX collapse

Diksha Madhok | CNN Business | Nov 14th, 2022
Category: Financial News

Aftershocks from the massive earthquake in the trillion-dollar crypto industry last week continued to reverberate on Monday.

Prices of digital currencies fell again as the crisis engulfing the market deepened over the weekend. Bitcoin, the world’s biggest cryptocurrency, has plummeted about 65% so far this year. It was trading at about $16,500 on Monday, according to CoinDesk. Analysts believe that it could fall below $10,000.

Ether, the world’s second most valuable cryptocurrency, isn’t faring much better. It was trading at about $1,230 on Monday, having sunk over 20% over the last week, CoinDesk data showed.

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