Binance Highly Unlikely to Move Forward with the Acquisition of Rival FTX
And More ı By Rochdi Rais
0 Comments
Binance is highly unlikely to continue with its proposed acquisition of rival FTX less than a day after it said it would step in and rescue the failed exchange amid solvency worries Coindesk reported Wednesday.
Binance was leaning against completing the emergency deal after reviewing FTX's internal data and loan commitments, the report said, citing a person familiar with the matter.
Changpeng Zhao, Binance's CEO and co-founder, said Tuesday that FTX asked his company for help amid a "significant liquidity crunch". Binance was performing its due diligence on FTX under a non-binding letter of intent for the purchase, a move taking place less than a year after FTX carried a $32 billion valuation.
FTX before striking a deal with Binance had sought help from other large exchanges Coinbase and OKX but it was turned down, according to the Coindesk report.
Contagion fears began cropping up last week following reports of heavy exposure to FTX's native token, FTT, on Alameda's balance sheet. FTT on Wednesday dipped 79% to $3.81
Discussion
No comments yet. Be the first to join the discussion!
FOLLOW US
Recent Posts
MK ULTRA Hearing Erupts on Capitol Hill as Luna Demands…
Harvard’s “Alien Hunter” Just Got a White House Badge —…
House Passes Bill to Hunt Down Billions in Stolen COVID…
Millions of Medicare Enrollees Set for First-Ever Weight-Loss Drug Coverage…
Trump Administration Freezes Medicaid Fraud Funding in New York
Supreme Court Strikes Down Limits on Coordinated Party Spending —…
Tom Hardy Returns To MobLand For Season 3 After Issues…
Don’t Miss It
Dish Network Teeters on Bankruptcy Edge — Pay-TV Giant in Talks to Restructure $25 Billion Debt Amid Subscriber Exodus
By – Rihem AkkoucheUS supreme court rules states can ban transgender athletes from female sports
By – Rihem AkkoucheFederal Judge Slams Trump Administration’s ‘Flagrantly Illegal’ Attempt to Kill Major Hudson River Rail Tunnel — Orders Permanent Halt to Funding Suspension
By – Rihem AkkoucheSupreme Court’s Birthright Citizenship Ruling Strikes Down Trump’s Executive Order in Landmark 14th Amendment Decision
By – Rihem AkkoucheReflecting Pool Becomes Political as Biden Mocks Trump Over Costly Repairs
By – Jackie AllenTrump Orders EPA to Expand ‘Freedom to Fix’ Vehicle Repairs in Sweeping Move Targeting California’s Emissions Bottleneck
By – Samuel LopezAmerican Businessman Seeks More Than $5 Million From Sofitel and Accor After Barcelona Robbery
By – Rochdi RaisVirginia Greenlights Recreational Marijuana Retail Sales Starting 2027
By – Tyler Brooks
Kelly Warner Law Firm Blames USA…
In what appears as a desperate attempt to defend multiple…
By – USA Herald
Aaron Kelly Law Firm Resorts To…
Attorney Aaron Kelly and his law partner Daniel Warner are…
By – Jeff Watterson
Arizona Bar Opens Investigation on Attorney…
USA Herald recently reported on a developing story involving Attorneys…
By – Paul O'Neal
FBI Director Kash Patel Under Fire…
In a move that has sent shockwaves through the federal…
By – Tyler Brooks
Is Your Console Ready for the…
It has been a monumental month for fans of Grand…
By – Tyler Brooks
Metallica Defied Venue Rules at Principality…
Metallica Defies Principality Stadium Rules With Surprise Performance of Banned…
By – Tyler Brooks
Hawaii Hemp Retailers Take State To…
The hemp and CBD retail market in Hawaii is currently…
By – Tyler Brooks
The Dramatic Fall of Guo Wengui…
The dream of a luxury lifestyle and the promise of…
By – Tyler Brooks
The Surprising Economic Consequences of Texas…
Texas is currently at the center of a massive legal…
By – Tyler Brooks
Delta Passengers Sue Airline for ‘2.5…
Nearly two dozen passengers aboard a Delta Air Lines flight…
By – Rihem Akkouche
T-Mobile Stuns Loyal Customers with Brutal…
T-Mobile, once celebrated for rewarding customer loyalty by letting longtime…
By – Rihem Akkouche
San Francisco Archdiocese Agrees to Staggering…
In one of the largest settlements of its kind in…
By – Rihem Akkouche
U.S. Holiday Week Heatwave is Here;…
If you’re out of sunblock, it’s time to stock up.…
By – Macie LaCau
Woman Was Attacked and killed by…
A 31-year-old woman was brutally killed by a large alligator…
By – Rihem Akkouche
US supreme court upholds law to…
In a stunning 5-4 decision that defied recent trends, the…
By – Rihem Akkouche
Stonewall Riots: An Uprising That Changed…
The Stonewall Riots marked one of the most significant turning…
By – Jackie Allen
Strait of Hormuz Conflict Escalates as…
The Strait of Hormuz remains one of the world’s most…
By – Jackie Allen
Confidential Sources at Center of Catherine…
Confidential sources are once again at the center of a…
By – Jackie Allen
JonBenét Ramsey Case: DNA Evidence Remains…
JonBenét’s father, John Ramsey, says he does not believe the…
By – Jackie Allen
Meta Layoffs Continue Despite Record Profits…
Meta Layoffs are once again making headlines after the social…
By – Jackie Allen
Careless People Author Sues Meta, Claiming…
Careless People, the bestselling memoir written by former Meta executive…
By – Jackie Allen
What the Upcoming Supreme Court Ruling…
The landscape of American democracy is bracing for a major…
By – Tyler Brooks
Careless People Author Sues Meta, Claiming…
Careless People, the bestselling memoir written by former Meta executive…
By – Jackie Allen
AI Chatbots Challenge Google’s Search Dominance,…
AI Chatbots are steadily reshaping how people search for information…
By – Jackie Allen
California Earthquake Shakes Northern Region, Triggering…
A California Earthquake with a magnitude measured at 5.6 struck…
By – Jackie Allen
Bondi Beach Hero Pleads Not Guilty…
Bondi Beach Hero Ahmed al Ahmed, the Syrian-born Australian shop…
By – Jackie Allen
Was Marilyn Monroe Murdered?
Marilyn Monroe remains one of the most recognizable and influential…
By – Jackie Allen
The Surprising Economic Consequences of Texas…
Texas is currently at the center of a massive legal…
By – Tyler Brooks
Trump Accounts Launch July 4 With…
The Trump accounts program offers federal seed money to qualifying…
By – Michallie Harrison
AI Is Learning to Socialize—But Humans…
INSIDE THIS REPORT 1: Moltbook has become the world’s first major…
By – Samuel Lopez
Trump’s Religious Liberty Commission Unveils Sweeping…
By Samuel López | USA Herald For Americans who have…
By – Samuel Lopez
Could You Be Owed Money From…
Time is rapidly running out for millions of Americans to…
By – Tyler Brooks
San Marcos Residents Face Fines Over…
As the nation prepares to celebrate its 250th birthday, a…
By – Tyler Brooks
Everything You Need to Know About…
As the calendar turns to July 1, residents of Georgia…
By – Tyler Brooks
Trump Seeks $1.4 Billion as Congo…
The Trump Ebola funding request would provide more than $1.4…
By – Michallie Harrison
Temperatures in France were higher than…
The images coming out of Europe this week are nothing…
By – Tyler Brooks
Biden Cognitive Issues: Court Fight Over…
Questions about Biden cognitive issues surround the former President. This…
By – Jackie Allen
Your Blood Pressure Reading May Be…
Millions of people living with high blood pressure believe that…
By – Tyler Brooks
Nichelle Nichols’ Final Mission Ends in…
By Samuel López | USA Herald The woman who helped…
By – Samuel Lopez
USMNT Lost to Turkey at 90+8.…
Kaan Ayhan’s goal came in the 90th minute, plus eight.…
By – Nicolas Carreno
Tears, Goals, and the Siuuu: IShowSpeed’s…
The 2026 FIFA World Cup has been a rollercoaster of…
By – Tyler Brooks
World Cup History Made as Lionel…
World Cup history was made Monday afternoon in Arlington, Texas,…
By – Jackie Allen
Lionel Messi, at 39, Shatters All-Time…
Lionel Messi has done it again. The Argentine superstar etched…
By – Rihem Akkouche
Will a Massive Storm Derail the…
The 2026 FIFA World Cup is already delivering unforgettable moments…
By – Tyler Brooks
Extraterrestrial Kickoff? Viral Psychic Warns of…
Football fans around the globe are currently deep in the…
By – Tyler BrooksNo posts found.
No posts found.
