Cryptocurrency Exchange Binance Pulls Out Of FTX Deal
Crypto exchange Binance pulls out of FTX rescue deal. The rate of the first cryptocurrency at the moment fell below $16,000. At the time of writing, the bitcoin exchange rate is $16,668. WSJ writes about it.
“As a result of corporate due diligence, as well as in light of the latest news of mismanagement of client funds and reports of investigation by the US authorities, we have decided to abandon plans to acquire FTX.com,” Binance said in a statement.
The US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are reviewing FTX, according to media reports.
Meanwhile, FTX CEO Sam Bankman-Fried told investors that the exchange needed up to $8 billion in funding amid massive client withdrawals from the site, the Financial Times wrote, citing people familiar with the matter.
