2023-11-08 16:26:00

Crypto exchange Binance plans to acquire major rival FTX

Channel NewsAsia

By Cna

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WASHINGTON/LONDON :Binance, the world's largest cryptocurrency exchange, has signed a nonbinding agreement to buy FTX.com, a unit of major rival FTX, to help cover a liquidity crunch at the cryptocurrency exchange, Binance CEO Changpeng Zhao said on Tuesday.

FTX has come under pressure after Zhao said on Sunday his firm would liquidate its holdings of FTX's in-house token, FTT, due to unspecified recent revelations.

#ceo #reuters #ftx #currentbacklog #liquiditycrunch

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Business / FinanceBy Cna2023-11-08 16:26:27

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