Binance agreed to buy FTX, after seeing that the crypto money exchange FTX could not overcome the problems it has experienced in the past days. FTX CEO Sam Bankman-Fried tweeted on Tuesday, “We’ve come to the same point. FTX’s first and last investors are the same: We have signed an agreement for the strategic transition of FTX.com to Binance.”
Binance CEO Changpeng Zhao also announced the agreement on Twitter, stating that the two cryptocurrency exchange giants signed a non-binding agreement.
Both Bankman-Fried and Zhao said the details of the deal will come to light in the next few days. The deal that reported by CoinDesk last week revealed that FTX’s sister company Alameda Research filled its balance sheet with FTX’s token, FTT, causing concerns in the market.
Source: https://www.coindesk.com/business/2022/11/08/ftx-reaches-deal-with-binance-amid-liquidity-scare-sam-bankman-fried-says/
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