Bitcoin Gold BTG/USD and SolanaSOL/USD aretrading lower by some 3.30% to $14.45 and 4.55% to $15.42Friday afternoon.Several altcoinsare experiencing ongoing, marked weakness andtrading lower after crypto exchange FTX commenced Chapter 11 proceedings.

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Beleaguered cryptocurrency exchange FTX, its U.S. subsidiaryFTX US, its sister firm Alameda Research and approximately 130 additional affiliated companies on Friday filed for Chapter 11 Bankruptcy in a United States court.

The stunning development comes as industry participants watched for Tron founderJustin Sunto potentially bail out the ailing exchange.

Hours earlier, Sun said he has entered into negotiations with FTX afterChangpeng Zhao, CEO of Binance,walked away from the deala deal to acquire the Bahamas-based FTX exchange…Read More

According to data from Benzinga Pro: BTG is lower by 20.58% over the trailing week SOL is lower by 53.66% over the trailing week