The cryptocurrency market is tanking after a wild few days. Turmoil ensued after Binance, the largest cryptocurrency exchange, signed a letter of intent to buy rival FTX, as rumors swirled regarding the solvency of FTX and how any deal could affect users.
What’s more, the question of whether the apparent deal between Binance and FTX will actually close has ravaged markets further—especially impacting the tokens dubbed “Sam coins” by those within the crypto community, referring to FTX CEO Sam Bankman-Fried.
