Trust in crypto exchange tokens recovers from FTX lows
Centralized exchanges have largely shrugged off the contagion caused by FTX's bankruptcy in November 2022.
Crypto exchange tokens have largely shrugged off their FTX bankruptcy lows and recovered or reached new all-time highs as part of the ongoing bull market.
At the time of publication, Binance's native token, BNB, is currently trading at $352, representing a gain of 32% from November 2022, when troubled cryptocurrency exchange FTX declared bankruptcy and spread panic across the crypto exchange ecosystem.
In addition, BNB is trading higher than its previous highs in June 2023, when news of an ongoing investigation into the exchange by the U.S. Department of Justice (DOJ) and a U.S. Securities and Exchange Commission (SEC) lawsuit was first uncovered. The exchange has since settled with the DOJ for $4.3 billion, while the SEC lawsuit is ongoing.
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