Crypto giant Binance calls off takeover of FTX

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Sam Bankman-Fried lost 15 billion with his crypto exchange FTX.

Bitcoin price dropped below $16,000 this morning. For the first time in two years! It means: Hundreds of thousands of investors lost billions. The reason behind the massive burglary is Sam Bankman-Fried. The boss of the crypto exchange FTX lost $ 15 billion in the sand. Before the first reports of problems with FTX, Bitcoin was well over $20,000. At its peak, the cryptocurrency hovered around $65,000.

At first, Binance – the world’s largest trading platform for digital currencies like Bitcoin – was rumored to be rescuing its competitor FTX. However, this hope has since evaporated.

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