The current state of the crypto market today has proven what everyone always feared, uncertainty. Many investors initially lost million due to the crypto winter. However, in the heat of the market crash, analysts forecasted a positive outcome from the bearish trend.
Many believe the trend would eliminate unreliable and shaky projects from space while strengthening the well-grounded ones. But the effect of the crash is moving towards areas no one expected.
FTX, one of the strongest competitors of Binance, is now on the brink of collapse. Binance’s announcement to liquidate all its FTT holdings triggered a chain reaction that plummeted the native token FTT. Many people started withdrawing their Ethereum, Tron, and Solana from the exchange, causing FTX to stop withdrawals.
Some celebrities have invested in FTX. Stephen Curry, the basketball star, had a partnership deal with FTX in Sept 2021. This deal…
