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The abrupt collapse of FTX, the world s third-largest crypto exchange, is affecting more than 10,000 retail and corporate investors, leading to major market disruptions. Ever since the company initiated its U.S. bankruptcy processes recently, major cryptocurrencies and FTX s FTT tokens have been on a sharp decline. Bitcoin was priced around $21,000 on Nov. 6, but plunged below $16,000 on Nov. 10 when fears of the firm s liquidity crisis started heightening in Korea and abroad.

United statesSoult ukpyolsiSouth koreaCapitol hillDistrict of columbiaSamuel bankmanSenate committee on agricultureExchange allianceMiami heatFinancial supervisory service governor lee bok hyunSamuel bankman friedSenate committeeMobile indexDigital assetSupervisory service governor lee bok hyunSouth korea