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Cryptocurrencies: 22845
Markets: 83121
Market Cap: $1,975,203,902,777     
24h Vol: $64,901,144,366
cryptonews 2022-11-09 22:14:00

Binance Backs Out of Buying FTX Crypto Exchange, Cites Mishandled Customer Funds and Regulator Investigations

Binance Backs Out of Buying FTX Crypto Exchange, Cites Mishandled Customer Funds and Regulator Investigations
Binance is pulling out of the deal to buy FTX. On Tuesday 8 November, Binance signed a letter of intention to acquire the failing crypto exchange, although at the time it said the agreement was subject to a due diligence process. But as the contagion from the collapse of the FTX leads to a bloodbath in crypto asset prices, the quality of the FTX balance sheet and that of its sister company Alameda is likely to have deteriorated sharply.... Read More: Binance Backs Out of Buying FTX Crypto Exchange, Cites Mishandled Customer Funds and Regulator Investigations
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