Connect with us

Hi, what are you looking for?

Business

Binance Acquisition of FTX Appears Unlikely to Close

FTX

Crypto exchange Binance, the largest in the world by volume, had officially signed a letter of intent on Tuesday to acquire their competitor, FTX amid a liquidity crunch, but it appears that the deal may not go through.

According to Coindesk, FTX’s loan commitments raised concerns among Binance’s top brass.

The report comes on the heels of Binance chief executive Changpeng Zhao stating that FTX “going down is not good for anyone in the industry,” and the ongoing episode has “severely shaken” the confidence of consumers, per his official Twitter page.

FTX had some troubles leading to Tuesday’s announcement, with some $6 billion in withdrawals from its platform taking place, which caused fear among investors regarding FTX’s financial health.

You May Also Like

News

Amazon’s newest healthcare offering is on the horizon, and a brand new leaked video that was published the company’s YouTube page on Tuesday, and...

Crypto

Liquid, the FTX owned Japanese cryptocurrency exchange, has officially announced plans to start the process of returning customer assets in 2023, according to an...

Gaming

One of Paris’ top esports teams Team Vitality has announced the launch of a brand new mobile app called V.Hive, which will be the first support-to-earn...

Business

Coinbase CFO Aleisa Haas took to the company’s official blog to discuss their approach to matters such as transparency, risk management, and consumer protection....