Bitcoin (BTC) fell below $17,000 on Nov. 9 as rumors spread over crypto exchange Binance exiting a deal to buy embattled competitor FTX.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBinance CEO: “Do not trade FTT”
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $16,936 on Bitstamp before rebounding.
The latest dive hit an already shaky market, which had reacted badly to news that FTX asked Binance for financial assistance.
In a note to staff shared on Twitter, Binance CEO Changpeng “CZ” Zhao told them to refrain from trading FTX’s in-house FTX Token (FTT).
“I want to remind everyone: DO NOT trade FTT tokens. If you have a bag, you have a bag,” it read.