The declines occurred after crypto exchange Binance said it's backing out of plans to acquire its rival FTX, citing the results of a due diligence exam, as well as recent reports of mishandled customer funds and alleged U.S. agency investigations of FTX.In one of the key races that could determine Senate control, Democrat John Fetterman defeated Republican Mehmet Oz for the pivotal Senate seat in Pennsylvania, according to an NBC News projection."Inflation is enemy number one for the Fed, and if you see the core CPI print creep up, I believe that the market would have a negative reaction to that," Allianz Investment Management's Johan Grahn said.— Sarah Min Bitcoin falls to new bear market low as Binance abandons deal to acquire FTX Cryptocurrencies extended their slide for a second day Wednesday, plunging in the late afternoon as Binance abandoned plans to acquire FTX, citing corporate due diligence and recent reports of mishandled customer funds and alleged U.S. agency investigations.But Gardner said a gridlock in federal government, which was widely expected leading up to Election Day, would likely make it harder to pass fiscal policy."