Life in the cryptocurrency industry is rarely quiet for long, and after a tumultuous summer, it seems the market is now entering a “crypto winter”.
Over the past week, the founders of two of the largest cryptocurrency exchanges – Binance and FTX – have had a public Twitter spat that triggered the collapse of one exchange and a failed bailout deal from the other.
Unsurprisingly, these events have caused widespread panic across a market that has barely recovered from several major failures earlier this year.
You can listen to more articles from The Conversation, narrated by Noa, here. Binance, which is estimated to be worth more than US$300 billion (£263 billion), was actually FTX’s first investor in December 2019.