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Crypto Giant Binance To Buy FTX

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1

In a surprising twist of events, Binance will acquire the FTX cryptocurrency exchange.

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2

A day after Sam Bankman-Fried, CEO of FTX, stated that his company was fine and would continue to remain so, 

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3

FTX & Binance reached a deal to allow Changpeng Zhao's company to buy FTX.

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4

The development was tweeted by the Binance chief and SBF, referring to a liquidity crunch that has seen FTX come full circle in its role as a crypto exchange.

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5

Binance CEO: "FTX has asked us for our assistance. There is a severe liquidity crunch. We signed a non-binding LOUI to protect users. 

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6

This LOI aims to acquire FTX.com completely to help with the liquidity crunch. In the next few days, we will conduct a complete DD."

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