Post a Free Blog

Submit A Press Release

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Thriller
Truck Series (TRUCK)
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
0
-- Advertisement --spot_img
HomeBusinessBinance Decides Not to Buy FTX

Binance Decides Not to Buy FTX

Add to Favorite
Added to Favorite


Crypto exchange Binance announced it decided to walk away from its rescue deal to buy FTX. Binance said its hope was to be able to support FTX’s customers to provide liquidity. However, after conducting a review of the company’s finances, Binance announced that the issues are beyond its control or ability to help.
Binance backing out of the deal leaves Sam Bankman-Fried’s crypto empire on the verge of collapse and raises questions on what is next for FTX, which was valued at $32 billion by private investors earlier this year.
According to rumors, Sam Bankman-Fried, whose net worth dropped from more than $15 billion to around $1 billion after the collapse of FTX, told investors yesterday about the company’s emergency funding need in order to cover an $8 billion shortfall, which is a result of withdrawal requests received in recent days. This was followed by the announcement from Binance of changing its plans to acquire the company.

Subscribe to get Latest News Updates

Latest News

You may like more
more

Watch Samsung to launch wearable product, smart ring called Galaxy Ring, web fans are excited

Samsung (SSNLF) will soon launch its first-of-its-kind wearable product,...

Bad news for inflation: Wholesale prices rose in June

The cost of goods—including gas, electronics, and appliances—dropped by...

Benchmark Reiterates Buy Rating on JD.com, Adjusts Q2 Revenue Growth Projection

Benchmark analysts reaffirmed their Buy rating and set a...

Truist Securities Reiterates Buy Rating on Five9 Amid Activist Investor Push for Sale

Truist Securities analysts reaffirmed their Buy rating and set...