Bitcoin fell to as low as $17,484 Tuesday, the lowest level since Nov. 2020, after Binance, the world’s largest crypto exchange, said it had signed a letter of intent to acquire the non-U.S. assets of rival FTX, which faces a “significant liquidity crunch.”
FTX’s chief executive, crypto billionaire Sam Bankman-Fried, tweeted Tuesday that the exchange had entered into a “strategic transaction” with Binance, pending due diligence. Representatives of FTX didn’t respond to requests seeking comment.If completed, the acquisition could be the most high-profile deal in the crypto space, leading to further consolidation of digital-asset exchanges.
FTT on Tuesday plunged more than 80% to as low as $4.3. FTX also saw increased withdrawals, with its stablecoin reserves hitting a yearly low on Monday, down more than 90% over the past two weeks, according to data from CryptoQuant. FTX seemed to have temporarily halted withdrawals Tuesday morning, the Block reported citing on-chain data.
Interesting!
Don’t see this changing anything
He's probably going to back out in the last minute and say no deal buddy
Doesn't change all of crypto's endless issues. crypto FTX Binanace
After the today's dust settles, and cz_binance does a 'full DD in the coming days,' he'll know what is left of SBF_FTX's empire and will will decide to employ the 'non-binding' part of his tweet.....pretty sure the $FTT Token part is just air
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