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22.11 - 17:08
Binance backtracks on deal to rescue FTX amid crypto firm’s $8bn shortfall
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fnlondon.comCrypto exchange Binance reversed course on a rescue offer for FTX on 9 November, leaving the prominent digital firm with an uncertain future as it faces a shortfall of up to $8bn, according to people familiar with the matter.
Binance chose not to go ahead with the nonbinding offer following a review of the company's finances, the exchange said. "In the beginning, our hope was to be able to support FTX's customers to provide liquidity, but the issues are beyond our control or ability to help," Binance said in a statement.
Read more on fnlondon.comAbout this in other media
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Ripple to consider deals for FTX assets: Brad Garlinghouse cointelegraph.com /2 years ago
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