Podcasts/Bitcoin News Alerts | Daily BTC Macro Signal/1098: BREAKING: Binance To 'Fully Aquire' FTX After Withdrawals Stop As Bitcoin Hits 2-Week Lows!!
Episode 1098
1098: BREAKING: Binance To 'Fully Aquire' FTX After Withdrawals Stop As Bitcoin Hits 2-Week Lows!!
November 8, 2022·26m
Show Notes
Bitcoin (BTC) and crypto markets fell heavily into Nov. 8 as contagion from the FTX debacle spilled over.
FTX appears to have stopped processing withdrawals, on-chain data show and as a result Binance is to now fully acquire FTX, as per CZ, the Binance CEO and SBF recently announced on Crypto twitter.
"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. We will be conducting a full DD in the coming days."
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