CFTC Opens Investigation: Bitcoin and These Altcoins Are Crashing!

The cryptocurrency market, including Bitcoin (BTC), has literally turned into a bloodbath. The trigger of events was the battle between Binance and FTX. However, now the authorities have stepped in. As the events escalated, news came that the US Commodity Futures Trading Commission (CFTC) launched an investigation into the Binance-FTX incident. After that, heavy selling pressure started in the market.

CFTC stepped in, Bitcoin and altcoins are blood bathing! As you follow, Binance CEO Changpeng Zhao (CZ) announced that he will sell the $ 2.1 billion FTT held by Binance. He implied that behind this were rumors of Alameda Research. These statements by CZ triggered a huge shock wave in the crypto market.

However, CZ said yesterday that he had no problem with FTX and extended the olive part. However, these will not have worked, as today things have become even more tense. In the end, the tension between Binance and FTX put the market in a whirlwind. Today, the market almost exclusively followed this event.

During the day, news came that an agreement was reached between FTX and Binance. In fact, Binance CEO Changpeng Zhao shared that they have signed a non-binding agreement to buy FTX outright. On the other hand, it was also on the agenda that FTX knocked on the door of Silicon Valley and Wall Street billionaires for the $1 billion bailout package a few hours before the Binance agreement.

However, the final straw was the US Commodity Futures Trading Commission (CFTC) reporting that it was watching what happened in the middle of Binance and FTX. With this news, the market turned red and selling pressure increased. However, the news did not end there. Then news came to the markets that the CFTC has launched an investigation into Binance-FTX’s latest attack. This news created a complete bombshell effect.

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