SCOOP: U.S. and European authorities – including the U.S. Department of Justice – have contacted Binance, asking the exchange to share what it knows about FTX after the companies’ rescue negotiations fell apart. jesseahamilton reports
U.S. authorities including the Department of Justice have contacted crypto exchange Binance for information about its recent interactions with FTX in the two companies’ talks about a potential rescue, according to a person briefed on the situation.
Binance has heard from U.S. financial regulators, the person said, in addition to regulators in Europe, requesting insight into what Binance executives learned this week about FTX’s internal workings. A spokesman for Binance declined to comment on the discussions. A Washington-based FTX official didn’t immediately respond to a request for comment.
Binance, the world's biggest global crypto platform by volume, had been weighing an emergency acquisition of FTX to save the firm from its liquidity crunch, which measured in the billions of dollars, a person familiar with the talks said., the trading company also founded by FTX CEO Sam Bankman-Fried, the person said. And FTX customer funds seemed to have been used for business purposes, according to the person.
Also this week, FTX US’ top lawyer has instructed employees to preserve work-related documents, another sign of potential legal exposure for Bankman-Fried’s crypto empire. On Wednesday, FTX US General Counsel Ryne Miller instructed staff to retain emails, messages, notes and documents stemming from their work at FTX, FTX US, Alameda and affiliated companies, sources told CoinDesk.
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