Cryptocurrency exchanges are rushing to reassure investors that they are solvent as customers withdraw funds, underscoring how much the collapse of FTX last week has shaken trust in the crypto space.
FTX, once one of the largest and most respected crypto trading venues, sought bankruptcy protection last Friday, less than a week after concerns began circulating in earnest that the group faced trouble from losses at Alameda Research, a related trading firm. That has shocked markets and the crypto industry alike.