One of the largest crypto-exchange platform wants to help regulate cryptocurrency in this time. One of the most famous and massive cryptocurrency exchange platforms in the world, Binance, is looking to join hands in creating a 'regulatory framework' for crypto in the coming years.
The collapse of FTX has jolted 50 lakh customers across the world who used the exchange to trade and invest in crypto. The FTT crypto, which traded at $80 at its all-time high has wiped out billions of dollars' worth of wealth. After LUNA, Celsius, Voyager, the collapse of the FTX empire has become a crude reminder of the volatility in the crypto markets.
The Binance chief executive said that there is a lot to cover and will take some time. "This is a highly dynamic situation, and we are assessing the situation in real-time," Zhao said, adding that Binance has the discretion to pull out from the deal at any time.