Binance announced that it intends to fully acquire FTX to help the exchange cover its liquidity crunch.
A full due diligence process is expected to be completed in the next few days, as well as more detailed information about the acquisition.
“There is a lot to cover and will take some time. This is a highly dynamic situation, and we are assessing the situation in real-time,” CZ said on Twitter. “Binance has the discretion to pull out from the deal at any time. We expect FTT to be highly volatile in the coming days as things develop.”
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