Binance Said to Waver on FTX Deal


It is amazing how quickly things can change in this space. And that is what we're going to spend a good chunk of today talking about. Now, to get you caught up, all sorts of stuff went down yesterday in which sandbach and freed of FTX said that they had come to an agreement with CZ a binance for binance to acquire FTX dot com, pending, do diligence on the part of binance. Now, according to a source today, binance is leaning against getting this deal done. They took a look under the hood and it's not looking good according to a source talking to coin desks the analysis. This is a highly fluid situation, something that has captured the markets and mainstream attention as FTX and binance inch toward a possible takeover. There's so much to go into on this one. Really crazy stuff has been going on in the trading world in the past 48 to 72 hours. But here we are now on the cusp of possible deal, but then again, maybe not. I'm going to throw this to Wendy for her initial thoughts on this whole binance FTX thing, which is just gone crazy and so quick. What's up? So there is definitely a lot to talk about here. There's a lot to break down. I want to come in with this from a business perspective. Business perspective means the LOI, the intent to purchase FTX or to acquire, to save them, is just an intent. It doesn't mean that it's actually going to happen. A lot of people are complaining, especially on Twitter saying that binance kind of started this whole thing by fighting FTT, et cetera. But realistically, that might not be the actual case. CZ did put a memo out a statement out indicating what kind of happened. We don't know the exact story because we're not in internally. One thing I will say from a business perspective, it might not make sense after they do their due diligence process to actually acquire FTX. Another thing that's very important to note is FTX U.S. and FTX official or FTX international are completely two different companies. Right now, FTX U.S. is safe to use. However, people should still consider getting their cryptocurrency off of the exchange. I did that yesterday

Coming up next