Crypto giant Binance is buying its rival FTX following a very public dispute
Binance of attacking his company with"false rumors," and maintaining that everything was"fine." By today, however, the two companies had reached a takeover deal while acknowledging that Binance would help resolve a"liquidity crunch" affecting FTX's transactions.
, CryptoQuant noted that FTX's net crypto asset holdings plunged 83 percent in just the past two days. That reportedly made withdrawals so difficult that FTX had to introduce stablecoin liquidity to process the moves through the markets or other exchanges. The company's stablecoin reserve has fallen by 93 percent in the past two weeks, and related withdrawals fell to near-zero by early this morning.
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