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Breaking: Binance Enters Agreement to Acquire FTX

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By 247patrick Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
Breaking: Binance Enters Agreement to Acquire FTX

© Pattanaphong Khuankaew / Getty Images

  • In a recent tweet, Binance’s CEO announced the exchange has entered a non-binding LOI intending to fully acquire competitor exchange FTX to help cover the “liquidity crunch.”
  • This news comes after concerns raised by Binance and its announcement of selling FTT tokens based on “recent revelations” that had come to light.
  • While Binance had never revealed what the revelations were, the exchange’s move put massive pressure on FTT and led to the crypto community questioning FTX’s liquidity, with many fearing a bank run.
  • Yesterday, FTX’s CEO had tweeted that the exchange was “fine“. Earlier today however, it was reported that FTX appeared to have paused on-chain withdrawals.

This article originally appeared on The Tokenist

Contact [email protected] for any questions or corrections.

Disclaimer: Energy Exploration Technologies, Inc. ("EnergyX") has engaged 24/7 Wall St to publish this communication in connection with EnergyX's ongoing Regulation A offering. 24/7 Wall St has been paid in cash and may receive additional compensation. 24/7 Wall St and/or its affiliates do not currently hold securities of EnergyX.

This compensation and any current or future ownership interest could create a conflict of interest. Please consider this disclosure alongside EnergyX's offering materials. EnergyX's Regulation A offering has been qualified by the SEC. Offers and sales may be made only by means of the qualified offering circular. Before investing, carefully review the offering circular, including the risk factors. The offering circular is available at invest.energyx.com/.

Comparisons to other companies are for informational purposes only and should not imply similar results. Past performance is not indicative of future results. Market shortfall are forward‑looking estimates and are subject to substantial uncertainty. Investments in private placements, and start-up investments in particular, are long-term, illiquid, speculative and involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest in start-ups

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