Collapse of crypto exchange FTX heaps pressure on bitcoin and other cryptocurrencies

Authorities in the Bahamas are investigating allegations of criminal misconduct by former cyptocurrency giant F-T-X following its sudden collapse. The development follows the exchange's announcement that it was investigating possible stolen crypto assets, which analysts say could be worth around $500 million. The collapse has sent shockwaves through the industry, prompting fresh calls to regulate the sector.

Signage for the FTX Arena, where the Miami Heat basketball team plays in Miami. Collapsed cryptocurrency trading firm FTX confirmed there was “unauthorized access” to its accounts, hours after the company filed for Chapter 11 bankruptcy protection Friday, Nov. 11. (AP Photo/Marta Lavandier) Source: AP / Marta Lavandier/AP