Crypto exchange Binance said Tuesday it plans to purchase rival FTX, which acknowledged it is experiencing a 'liquidity crunch' and asked for the deal.
confirmed via tweet that his company intends to purchase FTX and "help cover the liquidity crunch," and will conduct full due diligence over the coming days.
Changpeng Zhao, CEO of Binance, speaks at the Delta Summit, Malta's official Blockchain and Digital Innovation event promoting cryptocurrency, in St Julian's, Malta October 4, 2018. In a later tweet, Bankman-Fried dismissed what he called "rumors in media of conflict between our two exchanges," saying that "Binance has shown time and again that they are committed to a more decentralized
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