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HomeNewsBinance will not pursue the potential acquisition of crypto exchange FTX

Binance will not pursue the potential acquisition of crypto exchange FTX

The Binance team announced that they will not pursue the potential acquisition of FTX. They have mentioned a few reasons behind their decision as follows, the result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations.

After signing a non-binding settlement to buy FTX yesterday, reviews display that Binance has walked out of the deal. Reports display that a Binance exchange consultant issued a public assertion noting that FTX’s troubles are too large for Binance to help.

Binance has tried to help FTX’s customers to provide liquidity, They have mentioned as follows on their official Twitter.

”As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition of http://FTX.com.”

”In the beginning, 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.”

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