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International Business Times
International Business Times
Business
Marvie Basilan

Bitcoin Sheds $3,000 As FTX Begins Customer Repayments, Crypto Users Divided Over Market Impact

FTX Crypto Bitcoin Sam Bankman-Fried
Bitcoin bled Tuesday after collapsed crypto exchange FTX announced the beginning of its initial customer repayments. (Credit: Kanchanara/Unsplash)

KEY POINTS

  • $BTC was trading at around $96,500 then plunged below $93,500 following the news
  • The digital coin has since recovered and was trading just above $95,000 late Tuesday
  • Some crypto users wondered whether former FTX customers still want to be in the space after the 2022 crypto winter

The world's most valuable cryptocurrency bled out some $3,000 after collapsed crypto exchange FTX announced the beginning of its multi-billion-dollar customer repayments following its shocking collapse late in 2022 that triggered the infamous "crypto winter."

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