Binance, the world's largest crypto exchange, has signed a letter of intent to acquire the non-U.S. assets of rival FTX, which faces a 'significant liquidity crunch', according to Changpeng Zhao, Binance's co-founder and chief executive.

6 October - a hacker drains $580 million #bnb

7 November - Binance starts dumping $580 million #ftt

7 November - FTX urging CZ to stop dumping ftt

8 November - CZ willing to stop dumping and trade all their ftt if ftx gives them $580 million in BNB. And now?


Binance is buying FTX to save them from a significant liquidity crunch! :-)