Ethereum and the rest of the crypto markets are now experiencing yet another crippling calamity. They call it the ‘black swan’ event, which caused the disintegration of one of the largest crypto exchanges in the world, FTX.
With claims of mismanaged customer funds and alleged government scrutiny, Binance, the largest cryptocurrency exchange in the world, abruptly backtracked on Wednesday and announced it would not be buying rival FTX.com.
The term “black swan” is a metaphor for an unexpectedly large and consequential event that can be explained away with the benefit of retrospect.
The market recovery vibes of the past several weeks have been dashed, and major cryptocurrencies have fallen to their lowest levels since 2022 as a result of this occurrence.
This is contributing to a severe decline in the cryptocurrency market. During the early hours of Thursday, the global crypto market cap dropped by…
