Crypto investors rattled as Binance reportedly leans against completing its acquisition of rival FTX

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Crypto investors rattled as Binance reportedly leans against completing its acquisition of rival FTX
France Dernières Nouvelles,France Actualités
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Binance, the world’s largest crypto exchange, is reportedly unlikely to follow through with its proposed acquisition of the non-U.S. assets of rival FTX,...

Binance, the world’s largest crypto exchange, is reportedly unlikely to follow through with its proposed acquisition of the non-U.S. assets of rival FTX, amid the latter’s liquidity crunch.

After about half of a day of reviewing FTX’s internal data and loan commitments n Binance is leaning towards abandoning the deal, according to CoinDesk. Executives at Binance have found a gap, likely in billions and possibly more than $6 billion, between the liabilities and assets of FTX, Bloomberg reported, citing an anonymous source familiar with the matter.

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