Binance signs nonbinding agreement to buy rival FTX: Know more

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▤ Summary

Binance, the world’s largest cryptocurrency firm, announced on Tuesday that it has reached a deal to buy its rival crypto exchange FTX for an undisclosed amount. FTX’s US division, a separate entity called FTX US, is not included in the deal. In a tweet, Binance CEO Changpeng Zhao says, “This afternoon, FTX asked for our help. There is a significant liquidity crunch. To protect users, we signed a non-binding LOI, intending to fully acquire FTX and help cover the liquidity crunch.”

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Amount - Total raised
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Date - Announcement date
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Investors Binance Lead investors
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Company - Funded company

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Fintech & Banking
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Data Mining

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