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Benzinga
Benzinga
Business
Chris Katje

Binance To Acquire FTX.com As It Faces 'Liquidity Crunch': Here Are The Early Details

Binance FTX Sam Bankman-Fried Changpeng Zhao FTXCOM Cryptocurrency Crypto CZ FTT

Two of the leading cryptocurrency companies are merging in a deal announced Tuesday. Here are the early details.

What Happened: The overall cryptocurrency market capitalization dropped on Tuesday on the heels of Binance selling its position in the FTX token (CRYPTO: FTT). The price of FTT significantly dropped over the last 24 hours and led to many of the top cryptocurrencies like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) falling. 

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