Most cryptocurrencies witnessed massive losses on Thursday after Binance decided to back out of the FTX deal with Bitcoin slipping below 17,000. The global crypto market cap stood at $810.3 billion, with a volume of $188.9 billion in the past 24 hours. Cryptocurrency exchange Binance said it plans to buy its rival FTX Trading on Wednesday. However, later said, “As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition of FTX.com.”
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