FTX roiled markets throughout the week, culminating with the exchange's Chapter 11 bankruptcy filing on Friday.
On Sunday, Nov. 6, Binance's CEO Changpeng Zhao revealed plans to sell its FTT tokens. The following day, Sam Bankman-Fried insisted FTX was"fine." By Tuesday, however, Binance had reached a deal to acquire FTX.com.."Our hope was to be able to support FTX's customers to provide liquidity, but the issues are beyond our control or ability to help," Binance said.
From Wednesday onwards, FTX began to quickly unravel, and rumors of emergency fundraising to plug a $9 billion hole were swirling. FTX for Chapter 11 bankruptcy protection, along with more than 100 corporate entities affiliated with the firm, including Alameda Research and FTX US.
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