The global digital assets market has been rocked by the near-collapse of the cryptocurrency exchange, FTX.
The business was forced to strike a rescue agreement with a larger rival, Binance, after a surge in withdrawals.
This caused a “significant liquidity crunch” amid continued concerns about FTX’s financial health.
More than £5bn was taken out in three days as panic started to set in.
According to reports, Binance says it agreed to buy FTX’s non-US unit, pending due diligence.