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Binance is buying the FTX exchange












The head of Binance Changpeng Zhao said that representatives of FTX turned to him for help, because the U.S. exchange of liquidity crisis.

Binance is buying FTX exchange

Changpeng Zhao tweeted that he was buying the FTX platform. He said that FTX turned to Binance for help because of a serious liquidity crisis. To maintain FTX liquidity, Binance decided to purchase the U.S. platform.

The head of Binance also wrote that in the coming days will be conducted due diligence. Zhao noted that the situation is dynamic and at any time things can change. Binance has the option to back out of the deal.

Following the announcement of the FTX purchase, its native token FTT plummeted by 72% overnight. It is now trading around $4.87. The initial problem with the loss of liquidity is due to Binance’s announcement that they will sell their remaining FTTs within a few months. After that announcement, about $1.2 billion was withdrawn from FTX.





Mentioned projects



Binance
Binance is the leading cryptocurrency exchange system.

Binance is the leading cryptocurrency exchange system.


FTX
Cryptocurrency exchange with the ability to trade derivatives.

Cryptocurrency exchange with the ability to trade derivatives.






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