Binance’s victory over FTX means more users moving away from centralized exchanges

Binance’s victory over FTX means more users moving away from centralized exchanges


Based on the joint statements on Twitter this week from Binance CEO Changpeng “CZ” Zhao and FTX CEO Sam “SBF” Bankman-Fried, it seems clear that FTX has serious solvency problems — so dire that few in the market are willing to save it. As a result, FTX is turning to CZ as a prospective buyer.

After CZ exposed FTX’s problems earlier in the week by announcing his plan to dump $500 million of its FTX Token (FTT) on the market, the companies said on Nov. 8 that they had entered into a nonbinding agreement for Binance to purchase FTX. It’s a tentative deal that means Binance can withdraw at any time without facing any consequences, and I personally believe it is very unlikely the acquisition will

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