Binance chief Chao is in an interview with the FT:
- full impact of meltdown at rival crypto exchange FTX had yet to be felt
- warns of cascading crypto crisis
Bitcoin is trading down -$237 at $17,353. The low reached $15,632. Meanwhile the FTX token FTT is trading at $3.27 that's down $0.08 or -2.39%. It traded as low as $1.07 on Wednesday. The low price today reached $2.23.
JPMorgan has said there can be a cascading of margin calls a few weeks ago
Interesting comments from the head of a crypto exchange.
