Crypto chaos continues as Binance drops bid to buy rival FTX
Washington Post: In a startling about-face, Binance, the world’s largest cryptocurrency trading platform, said Wednesday that it was walking away from a deal to buy rival exchange FTX. The announcement came one day after Binance said it planned to acquire FTX amid a surge of customer withdrawals. Binance said it was abandoning the deal because of “mishandled customer funds” turned up by its review of FTX’s books and because of press reports that U.S. regulatory agencies would be investigating FTX.
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