Binance bailing FTX out?!
What started as a Twitter Spat has soon turned into a major liquidity crunch...
When billionaires clash, there is always fallout.
In this instance the billionaires were the CEOs of Binance and FTX.
The fallout was hedge funds and ultimately crypto investors as reserves were being unloaded.
What started as a spat now looks like a potentially buy out slash bail out for FTX.
Binance just announced they have signed a letter of intent to acquire FTX...
This story is absolutely wild, more can be seen here:
https://www.zerohedge.com/crypto/has-crypto-exchange-ftx-stopped-processing-withdrawals
Thank You for such an brief explanation.
Also I feel this was the smooth plan of Binance to "Binance-FTX Deal".
Here are the solid points to prove this Planned move of Binance to acquire FTX.
Looks like the market doesn't think the deal will go through.
Binance Global Inc.'s plan to Acquire a Rival Exchange FTX.com It may arouse suspicion of antimonopoly legislation, since Binance is already the world's largest cryptocurrency exchange and is now going to become even bigger.
Who regulates it?!
Upvoted! Thank you for supporting witness @jswit.
Thanks for posting
How is that even legal? Now even the price of Steem has suffered.
Well it would actually be a very good thing if they acquired FTX considering FTX is very likely insolvent, now it sounds like the deal may not go through though.
Well, just some hours ago Binance decided not to buy and the cryptos are in free fall.