In a current growth, Binance chief executive officer, Changpeng Zhao or widely described as CZ revealed on Twitter that they have actually authorized a non-binding Letter of Intent (LOI), meaning to completely get the FTX cryptocurrency exchange.
According to CZ, authorities from FTX connected to Binance as there was a considerable liquidity problem. In order to aid cover this, Binance would certainly be obtaining the entire of FTX.
This mid-day, FTX requested for our assistance. There is a considerable liquidity problem. To shield customers, we authorized a non-binding LOI, meaning to completely get https://t.co/BGtFlCmLXB as well as assistance cover the liquidity problem. We will certainly be carrying out a complete DD in the coming days.
—– CZ Binance (@cz_binance) November 8, 2022
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In a collection of tweets, he additionally specified,
There is a whole lot to cover as well as will certainly take a while. This is an extremely vibrant circumstance, as well as we are examining the circumstance in genuine time. Binance has the discernment to take out from the bargain at any moment. We anticipate FTT to be very unpredictable in the coming days as points create.