Binance declared its intention to fully buy FTX in order to shield its consumers from a liquidity crisis. Binance declared its intention to fully buy FTX in order to shield its consumers from a liquidity crisis. Binance CEO Changpeng Zhao stated on Twitter that FTX sought the exchange’s assistance since it was experiencing liquidity issues on its platform. Binance has signed a non-binding letter of intent (LOI) to buy CZ in the next few days, according to CZ. A comprehensive due diligence procedure and more precise details on the acquisition are scheduled to be completed over the next several days.
Sam Bankman-Fried, also known as SBF, the CEO of FTX, tweeted his thanks and best wishes to the FTX community for their support. The purpose of the tweet was to express gratitude to the FTX traders who continued to support the business even after Changpeng Zhao, CEO of Binance, announced that the company would be selling off all of its FTX tokens. The tweet was published by Bankman-Fried on November 7, as part of a string of tweets primarily devoted to the journey of FTX “during its crazy” times: The company has decided to sell the remaining FTX tokens (FTT)
In September, FTX US chose Miami over its previous hub in Chicago as the location for its new U.S. headquarters. After announcing Miami as its U.S. headquarters a month ago, FTX US, the operator of a cryptocurrency exchange, is encouraging staff to relocate there. According to those with knowledge of the situation, staff have been exhorted to make the transition by mid-November. Although FTX’s other American offices aren’t entirely closing, they are being reduced in size as the startup looks to concentrate its workforce in Miami, according to the sources. In a tweet in September, Sam Bankman-Fried, CEO of FTX,
According to several reports, FTX CEO Sam Bankman-Fried had a $50 million to $100 million interest in Twitter. The CEO and founder of the cryptocurrency exchange FTX, Sam Bankman-Fried, stands to gain up to $100 million from Elon Musk’s acquisition of Twitter. Before the transaction closed on Thursday, the exchange executive had shares of the social media behemoth valued between $50 million and $100 million, a source with intimate knowledge of the situation told The Block. Bankman-stake Fried’s in Twitter would be between 0.1% and 0.2% after Musk spent $44 billion to take the company private. After months of negotiations,
The FTX crypto exchange’s native token, FTT, has taken a hammering in the last 24 hours as new information about its Voyager acquisition plans has emerged. Bloomberg reported on October 20 that a tentative agreement between FTX.US and the troubled crypto lender Voyager Digital could result in the majority of assets being repaid. The arrangement, which was approved by U.S. Bankruptcy Judge Michael Wiles on Oct. 19, cannot be finalized until Voyager’s bankruptcy payout plan is approved. According to the article, if the deal goes through, Voyager clients might recover up to 72% of the value of their accounts. In
Texas is looking into the sale of unregistered securities by Sam Bankman-Fried, FTX, and FTX.US. in connection with the ongoing Voyager bankruptcy proceedings, in which FTX has made a bid for the lending platform, the probe was made public in a fresh file. According to Texas State Securities Board Director of Enforcement Division Joseph Rotunda, downloading the FTX program was simple, and after accurately entering his KYC information, he was able to start collecting yield on his ether investment. Joseph further stressed that FTX US is not authorized to transact in securities or as a money transmitter in Texas. The