November 27, 2022

Binance ditches deal to rescue rival crypto alternate FTX

Binance ditches deal to rescue rival crypto exchange FTX

Binance ditches deal to rescue rival crypto exchange FTX

Binance will abandon its deal to rescue Sam Bankman-Fried’s FTX cryptocurrency alternate, citing considerations about its enterprise practices and investigations by US monetary regulators.

The transfer comes a day after Binance, one of many world’s largest crypto buying and selling venues, tentatively agreed to purchase FTX after it suffered a liquidity crunch.

“Because of company due diligence, in addition to the newest information studies relating to mishandled buyer funds and alleged US company…

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