Binance FTX

Binance Walks Away From FTX Acquisition

Yesterday, Binance CEO Changpeng Zhao (“CZ”) announced a non-binding letter of intent to acquire FTX. Now he says the troubled FTX exchange is “beyond our control or ability to help” – meaning, the deal’s off. Binance confirmed in a tweet that it would not acquire FTX. FTX faced troubles that included an investigation by Texan … [Read more…]

Binance Signs Letter of Intent to Buy FTX

The day after Binance CEO Changpeng Zhao (“CZ”) announced that the exchange was liquidating its FTT holdings, he announced that Binance signed a letter of intent to acquire FTX. Letters of intent are not binding contracts. However, they are often a first step in a merger or acquisition. Binance had been an early investor in … [Read more…]