It said: "As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition of FTX.com However, just two days later, Binance announced it was walking away.
"But the important thing is that customers are protected." It may take a bit of time to settle - we apologise for that. This is one of the main reasons we’ve asked Binance to come in. "This will clear out liquidity crunches all assets will be covered 1:1. "Our teams are working on clearing out the withdrawal backlog as is," he tweeted. On Tuesday, Bankman-Fried - one of the sector’s most high-profile figures - announced FTX had "come to agreement on a strategic transaction with Binance", dependent on due diligence. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.įTX, which is run by 30-year-old crypto entrepreneur Sam Bankman-Fried, has been rocked by a surge in withdrawals after concerns mounted about its financial health, causing a liquidity crunch.Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds.Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so.
#Cast away quotes professional#
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