Yugocean
Valued Contributor
The tussle between two of the crypto industry's biggest exchanges has now come to a halt, with Binance CEO CZ announcing the acquisition of FTX, which is on the verge of bankruptcy.
After the liquidation of over 580 million FTT from the Binance Treasury, FTX's sovereignty in the cryptocurrency market also came to an end. Alameda Research, SBF's second company, also acted at the same moment, but Binance's rejection of its FTT buy offer was the deciding factor.
The FTT's value fell precipitously as a result, revealing a Luna-like fall. On this challenging occasion, SBF and Binance got into an agreement on November 8, 2022, based on which Binance's acquisition of FTX was assured.
CZ and SBF were playing tricks on each other without naming each other, while fans of both SBF and CZ were attacking each other in a way. But its a business, and both parties have to make peace at the end.
