The price of Bitcoin has touched a two-year low after the world’s biggest cryptocurrency exchange pulled out of a deal to rescue its smaller rival.
The price of other digital coins also fell after Binance scrapped its deal to buy FTX, citing due diligence concerns.
It has left some FTX customers unable to make withdrawals from the exchange, which is used to buy and sell various digital tokens.
There are also fears of further crypto market volatility if FTX goes bust.
On Thursday, Bitcoin fell below $16,000 (£14,049) for the first time since 2020 as investor confidence was hit by the news.
Ethereum, another popular digital coin, also tumbled before regaining ground.