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The Independent UK
The Independent UK
National
Ken Sweet

Crypto exchange Binance to buy rival FTX in apparent bailout

FTX Binance Crypto Sam Bankman-Fried Changpeng Zhao FTX Trading Twitter Inc. Bitcoin
Copyright 2022 The Associated Press. All rights reserved.

The cryptocurrency exchange Binance said it plans to buy its rival FTX Trading, in what appears to be a bailout of FTX.

The owners of the two exchanges — Samuel Bankman-Fried of FTX and Changpeng Zhao of Binance — announced the deal on Twitter, but did not disclose any details. The deal was pending due diligence, Zhao said on Twitter.

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