Binance scraps deal with FTX: spokesperson


Binance signed a nonbinding agreement to buy rival FTX’s non-US unit, FTX.com, to help cover a “liquidity crunch” at the cryptocurrency exchange, the companies said on Tuesday.

An advertisement for Bitcoin cryptocurrency is displayed on a street in Hong Kong, on Feb.  17, 2022.

An advertisement for Bitcoin cryptocurrency is displayed on a street in Hong Kong, on Feb. 17, 2022. | Photo Credit: AP

Binance signed a nonbinding agreement to buy rival FTX’s non-US unit, FTX.com, to help cover a “liquidity crunch” at the cryptocurrency exchange, the companies said on Tuesday.

Binance has decided not to acquire smaller rival FTXa spokesperson for the cryptocurrency exchange said on Wednesday, raising questions about the future of the Sam Bankman-Fried-led company that until recently played the “white knight” to embattled crypto firms.

FTX did not immediately respond to a Reuters request for comment.


Our code of editorial values



Source link

Leave a Reply

Your email address will not be published.