FTX crashed. Cryptocurrency prices tumbled on Friday as fretful investors returned to their defensive postures of earlier in the week.

Bitcoin (BTC) was recently trading at about $16,675, down nearly 7%. The largest cryptocurrency by market capitalization was still hovering near $17,000 when CoinDesk reported that FTX, the once-widely revered exchange, had filed for bankruptcy after a fruitless search for a rescuer. The ongoing fallout for an already shellshocked crypto sector remains uncertain. （By James Rubin, Glenn Williams, Jocelyn Yang）