Crypto platform Binance to buy troubled rival FTX

  • 📰 theSundaily
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 51%

Malaysia Headlines News

Malaysia Latest News,Malaysia Headlines

Binance has offered to step in after revealing that it was liquidating its holdings of FTX's FTT token amid concerns about FTX's finances. theSun theSundaily SunBiz business Bitcoin Crypto cryptocrash news finance

: Binance, the world’s biggest cryptocurrency platform, has agreed to buy its financially troubled rival FTX.com, according to an announcement on Tuesday on Twitter.

Binance has offered to step in after revealing that it was liquidating its holdings of FTX's FTT token amid concerns about FTX's finances. The crypto industry is still licking its wounds since so-called stablecoin TerraUSD and a linked token, Luna, collapsed in May this year, knocking tens of billions of nominative value off the market.

“Binance ... announced that it will sell FTX tokens worth around US$2.1 billion as a result of uncertainty related to Alameda Research, a company linked to the FTX exchange.” The company last Friday revealed that funds belonging to or intended for Iranians have flowed through its platform, risking that it may run afoul of US-imposed sanctions.

There are currently more than 10,000 cryptocurrencies sitting on many different blockchains following the creation of bitcoin in 2008.

Source: Digital Coin News (digitalcoinnews.net)

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 25. in MY

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BigPay Gets New Crypto Top-Up Feature In SingaporeBigPay, the fintech arm of AirAsia owner Capital A, has recently announced a new crypto top-up feature as well as
Source: LowyatNET - 🏆 13. / 59 Read more »

Terengganu promosi produk pelancongan di LondonPengarah Jabatan Pelancongan Negeri Terengganu, Fadli Yusof Zakaria berkata, program WTM tersebut membuka peluang dalam usaha merancakkan semula sektor pelancongan negeri selepas pandemik Covid-19.
Source: UMonline - 🏆 27. / 51 Read more »

Soccer-Bournemouth beat Everton 4-1 in League Cup third round clashLONDON (Reuters) - Bournemouth ended a run of four successive defeats by beating Premier League rivals Everton 4-1 in the third round of the English League Cup on Tuesday.
Source: staronline - 🏆 4. / 75 Read more »