Binance Backs Out of FTX Rescue

• 3 min read
Binance Backs Out of FTX Rescue

THIS WEEK IN CRYPTO

  • Binance backs out of FTX rescue, leaving the crypto exchange on the brink of collapse. The reversal comes one day after Binance CEO Changpeng Zhao announced that Binance had reached a non-binding deal to buy FTX’s non-U.S. businesses for an undisclosed amount, rescuing the company from a liquidity crisis. Binance says the issues are beyond their control* or ability to help.
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← Sam Bankman-Fried Resigns, FTX Files Bankruptcy
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