Binance will back out of its agreement to buy rival cryptocurrency exchange FTX, Binance said Wednesday afternoon, the latest in the sudden unraveling of billionaire Sam Bankman-Fried’s crypto titan FTX once valued at $32 billion.
last Wednesday that Alameda Research, Bankman-Fried’s crypto trading firm closely linked to FTX, largely held its assets in FTX’s coin.
Though Bankman-Fried called concerns about his companies’ finances “unfounded rumors” Monday, users flooded FTX with withdrawal requests and piled out of the FTX coin, with the token falling some 86% since Sunday, and falling from its $14 billion market capitalization in March to a mere $825 million.Bankman-Fried, with bitcoin, ethereum and shares of exchange Coinbase each falling 20% or more since Sunday.$176 billion.
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Binance Bails On FTX Acquisition — Here’s What Led To The FTX Crypto CrashBinance will reportedly back out of its agreement to buy rival cryptocurrency exchange FTX, the latest in the sudden unraveling of billionaire Sam Bankman-Fried’s crypto titan FTX once valued at $32 billion, taking down the value of digital assets with it.
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Bitcoin Nosedives After Binance Bails On FTXThe price of bitcoin is threatening to fall under $16,000 after news that Binance has decided to back away from its plans to acquire the collapsing exchange FTX.
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Sam Bankman-Fried Insists 'FTX is Fine' After Bombshell Report and Binance Liquidations | CoinMarketCapA flurry of speculation has hit FTT hard — and it has fallen by 14.5% over the past seven days. It's the worst-performing cryptocurrency in the top 30 by market cap.
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CZ Says Binance Intends to 'Fully Acquire FTX,' Sam Bankman-Fried Confirms Transaction – Bitcoin NewsAfter all the speculation surrounding FTX, Binance CEO Changpeng Zhao (CZ) revealed that his company is set to acquire FTX.
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Binance strikes acquisition deal for non-U.S. unit of FTX.FTX_Official and Binance have struck a deal. It comes after IanAllison's scoop last week on SBF_FTX's liquidity issues. emilydparker joined CNBC to discuss the news and the lack of transparency we're seeing in the crypto sector. Check it out:
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FTX Agrees to Sell Itself to Rival Binance Amid Liquidity Scare at Crypto ExchangeIt's a stunning outcome. After days of speculation, Binance has agreed to buy rival cryptocurrency exchange FTX_Official. Here's what you need to know 👉
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