- Changpeng Zhao (CZ), CEO of Binance, announced that the exchange has entered into a deal to acquire competitor FTX from Sam Bankman-Fried for an amount yet to be disclosed. He reported this on his Twitter account.
- Sam Bankman-Fried also confirmed the Binance purchase news via his Twitter account where he stated, “Hey everyone, I have some announcements to make. Things have come full circle, and the first, and last, investors of http://FTX.com are the same: we have reached an agreement on a strategic transaction with Binance for http://FTX.com (pending DD, etc.).”
After the dispute that had been suspected between Binance and FTX, Changpeng Zhao (CZ), CEO of Binance, has just announced today that the exchange has made an agreement to acquire its competitor FTX from Sam Bankman-Fried, for an amount that has not yet been announced. has been revealed. This was reported on his Twitter account.
“This afternoon, FTX has asked us for help. There is a major liquidity crisis. To protect users, we have signed a non-binding LOI, intending to fully acquire http://FTX.com and help cover the liquidity crisis. We will carry out a full DD in the next few days.”
As reported by Zhao after a request by FTX the agreement occurs, in the Twitter thread he also explains that there is still a lot to cover and that this will take some time, “we are evaluating the situation in real-time. Binance has the discretion to withdraw from the deal at any time. We expect the FTT to be very volatile in the coming days as events unfold,” Zhao said.
As we recently reported on the Market Times, the FTX FTT token had a sharp drop in the last hours, below 16 USD, due to rumors that FTX had suspended withdrawals. Following the news of the acquisition by Binance, the token has slowly risen, trading at the time of writing for $16.18, according to data from CoinGecko.
Sam Bankman-Fried also confirmed the purchase news via his Twitter account where he stated, “Hey everyone, I have some announcements to make. Things have come full circle and the first, and last, investors of http://FTX.com are the same: we have reached an agreement on a strategic transaction with Binance for http://FTX.com (pending DD, etc.).”
