Thai crypto investors turn to local exchanges after FTX collapse

Bitkub covers 75% of crypto trade in Thailand as competitors falter

20230208 ftx chart coin

Trading volume on Bitkub doubled to $139 billion on the day that global exchange Binance withdrew its offer to bailout its rival FTX. © Reuters

FRANCESCA REGALADO, Nikkei staff writer

BANGKOK -- Thai cryptocurrency investors scarred by the crash of 2022 have turned to locally regulated crypto exchanges, giving these trading hubs breathing space in the heavily distressed market.

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