Cryptocurrency exchange Binance may soon acquire rival FTX, Binance CEO Changpeng Zhao tweeted Tuesday.
Changpeng Zhao, the founder and CEO of Binance, the world's largest cryptocurrency exchange by trading volume.“This afternoon, FTX asked for our help. There is a significant liquidity crunch. To protect users, we signed a non-binding LOI [letter of intent], intending to fully acquire FTX.com and help cover the liquidity crunch. We will be conducting a full DD [due diligence] in the coming days,” Zhao wrote.
“This is a user-centric development that benefits the entire industry. CZ has done, and will continue to do, an incredible job of building out the global crypto ecosystem, and creating a freer economic world,” heFTX said it would not comment beyond its tweets in the immediate future. Binance has not responded to
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