FTX Acquisition And Crypto Crash Is Bad For The Community, Says CZ Binance
CEO Changpeng Zhao (CZ) gave statements to clarify the air amid the FTX ordeal and circumstances surrounding its acquisition by Binance. On Tuesday, FTT, the FTX native token, went to ruins with over 73% decline. It happened after the exchange liquidated its Ethereum holdings to mitigate its insolvency crisis. Before the crisis became known, the CEO of FTX, Bankman-Fried, debunked rumors of the firm’s financial pressure. He said the firm’s asset remains okay, and there was no threat of insolvency. Related Reading: Bitcoin Bloodbath Takes Crypto To New Bear Market Lows |....
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The world’s largest cryptocurrency exchange Binance will not go through with purchasing the rival crypto exchange FTX. The company noted that after due diligence and “news reports regarding mishandled customer funds,” Binance has decided not to pursue the FTX acquisition. Binance Drops the FTX Acquisition After the crypto exchange Binance revealed it would purchase FTX, the exchange has detailed it has backed out of the proposed deal. “As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US....
Binance's decision to liquidate 23 million FTT tokens triggered FTX's liquidity crisis. "Who needs Netflix when you are in crypto?", commented a user on Twitter as the crypto industry attempts to digest the acquisition of cryptocurrency exchange FTX by its rival Binance. The deal, disclosed on Nov 8., has been compared with a "chess move" by some, insinuating that Binance's strategy intentionally led to the deal.Users on Twitter claimed that "CZ just executed the most gangster play we've seen in Crypto, ever, period," referencing the series of tweets from Binance CEO Changpeng Zhao that....
The world’s largest exchange said on Wednesday that it will not pursue the potential acquisition of Sam Bankman-Fried’s FTX.
Binance has been among the most successful crypto exchanges in recent years, with its competition grabbing headlines on a daily basis. The latest news about them is that they’ve joined forces to invest in Elon Musk’s Twitter acquisition alongside firms like Sequoia Capital Fund and Fidelity. As per United States Security and Exchange Commission information, […]
After all the speculation surrounding the crypto exchanges Binance and FTX, Binance CEO Changpeng Zhao (CZ) revealed that his company is set to acquire FTX. CZ detailed that FTX asked for help and noted there is a “significant liquidity crunch.” FTX CEO Sam Bankman-Fried has confirmed the acquisition will take place. Binance Set to Acquire FTX After Drawn Out Confusion On Nov. 8, 2022, Binance CEO Changpeng Zhao (CZ) revealed that his company would be taking over FTX. “This afternoon, FTX asked for our help,” CZ wrote. “There is a significant liquidity crunch. To protect users, we signed....