Some banks suffered minor losses due to the collapse of cryptocurrency exchanges, but it did not significantly impact the financial system.
Cryptocurrency traders expressed wariness over the affiliation and potential conflicts of interest between exchanges and affiliated entities.
The collapse of FTX was seen as a total failure of the company and a warning sign for the broader cryptocurrency market.
Ether, the main coin for the Ethereum blockchain network , experienced a significant drop in value during the downfall of cryptocurrency
Despite the high valuations of cryptocurrency, the downfall is unlikely to have a major impact on the financial system.