Crypto giant Binance is buying its rival FTX following a very public dispute

@ 2022/11/09
Two of the largest crypto exchanges have just announced one of the stranger tech mergers in recent memory (and that's saying something). Binance plans to acquire its rival FTX after a brief but very public dispute. As Bloombergexplains, Binance CEO Changpeng Zhao sold about $529 million in FTX's native token on November 6th in response to "recent revelations that came to light," particularly a CoinDeskreport that FTX was facing a liquidity crisis. That led to FTX chief Sam Bankman-Fried accusing Binance of attacking his company with "false rumors," and maintaining that everything was "fine." By today, however, the two companies had reached a takeover deal while acknowledging that Binance would help resolve a "liquidity crunch" affecting FTX's transactions.

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