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Crypto markets experienced a brief respite from the last 72 hours of selling, before dumping again as the global crypto market cap crashed below $1 trillion. The post Crypto markets plummet after Binance, FTX deal frightens investors appeared first on The Block.
The brewing tension between Binance and FTX might just end up in a marriage as both firms are in talks for a potential acquisition.
Since the debate between CZ and SBF began, the price of FTT has been dropping sharply. FTT is trading at about $4, down 80.29% in the last 24 hours, per data from
Binance's decision to liquidate 23 million FTT tokens triggered FTX's liquidity crisis.
Is Binance manipulating FTT? What happened with FTX and why did it crash?
Although initial market euphoria over the announcements from FTX CEO SBF and Binance CEO CZ, now that the market has had time a little time to digest the news, it seems that crypto traders and investors are thinking that the crypto market's troubles may be far from over.
CoinDesk's Emily Parker joins 'The Exchange' to discuss the controversy around Sam Bankman-Fried's balance sheet, the FTX and Binance deal and the lack of transparency in the crypto sector.
Sam Bankman-fried was looking for Wall Street and Silicon Valley investors to bailout FTX hours before the acquisition deal with Binance
FTT has crashed, losing $2 billion in two days as FTX freezes withdrawals after Binance announced intent to acquire.
The market is experiencing a big sell-off as traders decide what to do with the big market-shifting news.
FTX (FTT/USD) token price has dropped more than 30% in one hour and nearly 60% in the past 24 hours, falling from around $22 on Monday to under $10 on Tuesday afternoon. At the time of writing, FTT/USD was trading around $8.
There has been an ongoing cold war in the crypto space between Binance and FTX. Two days ago, Binance CEO, Changpeng Zhao mentioned that the crypto exchange company will sell its remaining FTT holdings, as part of its exit plan from FTX equity beginning last year.
Binance's CEO stirred the pot by dumping FTX's native cryptocurrency and publicly questioning the exchange's liquidity.
Crypto markets have been stunned by the announced intent of a major crypto exchange for the first time to acquire another.
U.S. regulators are monitoring today's announcement that FTX has sold itself to Binance. The post FTX implosion has U.S. regulators on watch appeared first on The Block.
The acquisition — pending due diligence — comes after Sam Bankman-Fried drafted his own proposal for US crypto legislation
The crypto market is dumping after Binance announced its acquisition deal with FTX, with FTT suffering major losses.
Did Binance just do what we think it did? The world's biggest cryptocurrency exchange by trading volume will likely buy one of its biggest competitors.
In what appears to be a final stop to the rumours making the rounds, Binance CEO CZ has mentioned that his company has reached a non-binding deal to fully acquire FTX.
FTX saw around $6 billion in net withdrawals in the 72 hours leading up to today. The post FTX ‘effectively paused' withdrawals, CEO Sam Bankman-Fried tells employees appeared first on The Block.
The inter-exchange spat could elongate crypto winter, but it may also speed up regulation, some say
Cryptocurrency exchange, Binance has agreed to fully acquire Sam Bankman-Fried-owned cryptocurrency exchange, FTX, following the latter's liquidity issues.
Crypto exchange FTX saw around $6 billion of withdrawals in the 72 hours before Tuesday morning, according to a message to staff sent by its CEO Sam Bankman-Fried that was seen by Reuters.
A Binance FTX acquisition is becoming an astonishing reality as FTX's long-hidden liquidity issues become its downfall.
