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Bitcoin and other cryptocurrencies are weakening by ten percent

Cryptocurrencies weaken noticeably for the second consecutive day. Investors are concerned about the stability of the entire industry, as well as the financial condition of the FTX exchange, even as rival Binance wants to take control. According to data from the specialized website CoinDesk, the most famous cryptocurrency bitcon lost more than ten percent to $ 17,640 (about 427,000 crowns) after noon.

Significant losses were recorded by cryptocurrencies as early as Tuesday. That day was the worst for Bitcoin since mid-August. The second largest cryptocurrency ethereum it was down nearly 19% to $ 1,202 by noon on Wednesday.

Cryptocurrency giant On Tuesday, Binance signed a non-binding agreement to acquire the non-US unit FTX, to help cover the lack of liquidity on a competing exchange. The proposed deal between the high-profile rivals follows weeks of FTX financial health speculation, fueled over the weekend by Binance CEO Chinese-Canadian Changpeng Zhao.

Withdrawals from FTX jumped to $ 6 billion (NOK 145 billion) in the 72 hours leading up to Tuesday’s deal. This has raised questions about the solvency of one of the largest cryptocurrency exchanges in the world. FTX and Binance have not disclosed the terms of their deal, and the markets are facing renewed uncertainty over whether it will pay off.

FTT’s native coin, which is traded on FTX, wiped out 72% of its value on Tuesday. Today it is increasing its losses, again losing over 70 percent, according to data from the Coinnmarketcap website.

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