The entire crypto industry, from cryptocurrencies to crypto stocks, was incredibly volatile this morning amid rumors that the large crypto exchange FTX was facing insolvency. Then, after a run on the exchange, FTX struck a deal to sell its non-U.S. operations to the crypto exchange Binance.

Shares of the large crypto exchange Coinbase (NASDAQ: COIN) traded as much as 12% lower as of 10:38 a.m. ET today before recouping much of those losses. As of noon ET, shares were down only about 1.8%.

The Bitcoin (CRYPTO: BTC) miner and business intelligence company MicroStrategy (NASDAQ: MSTR) also saw its shares trade as much as 17% lower today before cutting those losses in half. Shares of the Bitcoin miner Riot Blockchain (NASDAQ: RIOT) were down as much as 13% but also reversed most of those losses.

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Source Fool.com