4u Created
Image default

Binance will buy FTX after liquidity crisis rumors

The letter of intent is nonbinding, and Binance CEO Changpeng “CZ” Zhao said the firm will conduct due diligence before the acquisition. Binance’s acquisition came after CZ said on Sunday he’d sell FTX’s FTT token, leading to a plunge in the token’s value. That token was the biggest asset on the balance sheet of Alameda Research, the trading firm also founded by Sam Bankman-Fried, the CEO of FTX, according to CoinDesk’s story.

The deal between the two companies isn’t totally done. “This is a highly dynamic situation, and we are assessing the situation in real time,” CZ said on Twitter.

Source link

Related posts

EVE decided it kneaded a better name — and yet it chose Dough

Stadia just made it a lot easier to play the Resident Evil Village demo

The 59 best early Black Friday deals happening today