Binance reaches agreement to purchase back FTX

After two explosive days, the battle among Binance and FTX has officially ended right after current announcements from the two sides. Binance Agreement to Acqui...

After two explosive days, the battle among Binance and FTX has officially ended right after current announcements from the two sides.

Tonight (Nov eight), the CEO of FTX Exchange, SBF, posted a standing line, revealing a key announcement in the close to potential.

one) Hello anyone: I have some announcements to make.

Things are back to square a single, and https://t.co/DWPOotRHcXThe 1st and final investor are the exact same: we have reached an agreement on a strategic transaction with Binance for https://t.co/DWPOotRHcX (waiting for DD and so on.).

– SBF (@SBF_FTX) November 8, 2022

“A long process with FTX and investors. We have reached agreements with Binance. The review process is ongoing ”.

Also in this announcement, SBF mentioned the firm is dealing with some technical difficulties in the withdrawal method. In addition, the CEO of FTX also thanked Binance and CZ, rejected the “rumors” of animosity among the two exchanges and referred to as the agreement “beneficial to users”.

And with no obtaining to wait also prolonged, Binance boss Changpeng Zhao announced the information of the aforementioned “transaction”. In specific:

This afternoon, FTX asked for our support. There is a serious liquidity crisis. To secure customers, we have signed a non-binding LOI, with the intention of completely obtaining https://t.co/BGtFlCmLXB and aids cover the liquidity crisis. We will be conducting a total DD in the subsequent number of days.

– CZ Binance (@cz_binance) November 8, 2022

“This afternoon, FTX asked for support. There are some liquidity troubles. For the safety of our customers, we have entered into a non-binding agreement, with the aim of obtaining FTX to support remedy the aforementioned liquidity troubles. In the subsequent number of days we will carry out the evaluation and evaluation phases “.

This is deemed an sudden finish to the current “war” among Binance and FTX and the Alameda Research fund.

See much more: What did the CEO of Binance say right after the “war” with FTX broke out? – FTT was heavily dumped when it misplaced 22 USD

After this details, FTT speedily recovered and returned to the USD 18 price tag spot. Tonight, right after the information that FTX has “suspended” consumer withdrawal transactions, FTT as soon as went deep into the USD 14 spot.