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Briefing
crypto

Binance to Acquire FTX in Stunning Rescue

By
Akash Pasricha
· · Source: The Information

Binance, the world’s largest cryptocurrency exchange, is acquiring the non-U.S. operations of rival FTX, which had seen billions in customer withdrawals after media reports about its close ties to trading firm Alameda Research. “This afternoon, FTX asked for our help,” tweeted Changpeng Zhang, CEO of Binance. “There is a significant liquidity crunch. To protect users, we signed a non-binding...

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