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Crypto wrap: Market stable even as FTX fallout claims one more victim

The total market cap has improved marginally from $855 billion last Friday to $859 billion on December 9

Cryptocurrency
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Photo: Reuters

Raghav Aggarwal New Delhi
The cryptocurrency market remained stable despite the FTX fiasco adding crypto finance firm BlockFi to its list of victims. On November 28, BlockFi filed for Chapter 11 Bankruptcy, with over $1 billion in outstanding liabilities and over $350 million in crypto assets frozen on FTX.

"Surprisingly, the crypto market's reaction to these events was fairly neutral, and trading remained rangebound throughout the week," Parth Chaturvedi, crypto ecosystem lead at crypto app CoinSwitch, said.

The total market cap has improved marginally from $855 billion last Friday to $859 billion on December 9. Bitcoin was up 1.5 per cent in the last

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First Published: Dec 09 2022 | 5:24 PM IST

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