), FTX CEO Sam Bankman-Fried, also known as 'SBF,' took to social media seemingly in an effort to quell rumors of conflict between the major crypto exchanges.“come to an agreement on a strategic transaction” with Binance following attempts to clear out its withdrawal backlog. SBF said he had asked Binance to step in, aiming to “clear out liquidity crunches” and cover assets on a 1:1 basis.
“I know that there have been rumors in media of conflict between our two exchanges, however Binance has shown time and again that they are committed to a more decentralized global economy while working to improve industry relations with regulators,” said SBF. “We are in the best of hands.”FTX approached Binance for help on Nov. 8 in response to a “significant liquidity crunch.
This afternoon, FTX asked for our help. There is a significant liquidity crunch. To protect users, we signed a non-binding LOI, intending to fully acquire— CZ Binance
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