Cryptocurrency exchange Binance is buying competitor FTX. The statement came from Binance Founder and CEO Changpeng Zhao.
In a Twitter statement, Zhao said FTX asked Binance for help today.
Noting that FTX has a liquidity problem, Zhao said, “To protect users, we have signed a non-binding letter of intent to fully acquire FTX.com and help resolve the liquidity problem.” used the phrase.
Sam Bankman-Fried, CEO of Binance competitor FTX, also confirmed the development, saying, “We have agreed a strategic transaction for FTX.com with Binance.” he said.
Pointing to some media reports on the issues between Binance and FTX, Bankman-Fried said, “Binance has repeatedly shown that it is committed to a more decentralized global economy kakım it seeks to improve relations between regulators and industry.” commented.
Neither party shared the details of the agreement.
ZHAO’S FTT MOVEMENT HAS CREATED LIQUIDITY PROBLEMS IN FTX
In a November 6 statement, Zhao announced that he had decided to sell FTX’s FTT tokens following their “recent valuations”.
After the announcement, FTT lost nearly 40 percent of its value on cryptocurrency exchanges, dropping to $ 15.
Due to the significant increase in withdrawals on the US-based FTX exchange, many users have reported having trouble withdrawing their money from the exchange.