Binance to acquire FTX
bloomberg.com
Binance to acquire FTX
1–10 of 790 posts
Re: Binance to acquire FTX
#2SBF tweets for more clarification: https://twitter.com/SBF_FTX/status/1590012124864348160
Apparently this is for the international exchange business, FTX.com, but not FTX.us or Alameda quant trading firm.
Re: Binance to acquire FTX
#3No post body was provided.
Re: Binance to acquire FTX
#4So after SBF came out yesterday and said FTX was totally fine.. it turns out they were insolvent and needed to get bailed out to cover withdrawals?
Never a dull moment in the world of crypto.
Re: Binance to acquire FTX
#5Impressive. I wonder how much of this was planned by CZ.
Re: Binance to acquire FTX
#6[deleted]
Re: Binance to acquire FTX
#7So this is presumably going to stop the bleeding for customer deposits at FTX. I wonder how this all shakes out with Alameda - because it looked extremely likely that Alameda and FTX were doing a fair amount of business between each other, and now Alameda likely will be forced to unwind a load of illiquid shitcoin positions, CZ isn't going to want those loans outstanding (or maybe he will - pull the same move again and hold a gun to Alameda's head ready to force liquidition whenever he likes)
Re: Binance to acquire FTX
#8Title is incorrect, they signed a non-binding LOI. They will first do a lot of Due Diligence and might back out of the deal anytime.
Re: Binance to acquire FTX
#9Wow. What an outcome to the whole saga. I wonder what happened behind the scenes
Re: Binance to acquire FTX
#10So after SBF came out yesterday and said FTX was totally fine.. it turns out they were insolvent and needed to get bailed out to cover withdrawals? Never a dull moment in the world of crypto.
"Every banker knows that if he has to prove he is worthy of credit, in fact his credit is gone." - Bagehot