Bitcoin miner expects ‘many more’ bankruptcies

Stunning tumble: The logo of cryptocurrency FTX is seen reflected in an image of Bankman-Fried. The crash of his empire has fuelled outflows across global crypto exchanges. — AFP

TORONTO: Crypto mining firms listed in Toronto expect more turmoil and a lingering crisis of confidence in digital assets after the collapse of Sam Bankman-Fried’s FTX.

Bitcoin dropped as low as US$15,804 (RM72,642) on Monday and has lost nearly a quarter of its value since Nov 5, shortly before FTX began to unravel.