Crypto exchange Binance will buy FTX – News – Finance – Kommersant
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Cryptocurrency exchange Binance has announced its intention to acquire FTX in a strategic deal. This was announced by Binance CEO Changpeng Zhao. According to him, FTX turned to them “for help” in connection with the lack of liquidity of the company.
“To protect users, we have signed a non-binding letter of intent to fully acquire FTX and help cover the liquidity crunch,” Changpeng Zhao wrote.
FTX CEO Sam Bankman-Fried tweeted that work is underway to resolve withdrawal delays, which will eliminate the liquidity crunch. He confirmed that this is the main reason they turned to Binance.
On November 6, Changpeng Zhao announced that Binance plans to sell its FFT tokens (FTX exchange tokens). Against this background, $1.2 billion worth of cryptocurrency was withdrawn from the FTX platform. FTX users complained about problems with the withdrawal of funds. FTX confirmed difficulties with transactions, but explained this with network problems.
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