Binance CEO Changpeng Zhao Announces FTX’s Acquisition
Sam Bankman-Fried and Changpeng Zhao have announced the have entered into a strategic partnership intended to resolve the liquidity crisis and suggests a possible takeover of FTX by Binance.
Zhao has written on Twitter:
“This afternoon, FTX reached out to us for help. There is a significant liquidity crisis. To protect users, we have signed a letter of intent for the complete acquisition of FTX.com. In the coming days, we will conduct a full due diligence.”
According to him, the current situation around the exchange is “very dynamic,” the evaluation of which “occurs in real time.”
He has added:
“Binance has the right to withdraw from a transaction at any time. We expect FTT to be very volatile in the coming days.”
FTX’s CEO Sam Bankman-Fried has confirmed the information about the strategic agreement.
