Crypto.com collapse

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FTX Collapsed�Here�s Why
Crypto exchange pro.coincollectingalbum.com cut 20% of its global workforce on Jan. 13, citing ongoing economic headwinds and unforeseeable industry events. In November , the exchange's token, Cronos, lost approximately $1 billion in value. The decline was caused in part due to concerns after the collapse of FTX. Traders Move to More Secure Wallets after FTX Turmoil. The study finds that search results for more secure crypto storage also increased. On
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At least three parties are bidding to take over and reboot the failed exchange. The broader consequences of FTX's demise for the cryptocurrency industry will take time to unfold, but cracks have already emerged. On June 9, , Crypto.