Bitcoin and Ethereum have continued to slide with traders concerned that other crypto exchanges could follow after the collapse of FTX. The largest coin by market cap, Bitcoin, lost 6.6% to US$15,727 within the last trading day.
Ethereum fell by 14% to US$1,089 since this time yesterday morning.
According to Naeem Aslam, a market analyst at Avatrade, news that crypto exchange Genesis needs a US$1bn capital injection “shows how interconnected this whole world of crypto really is.”