As a result of corporate due diligence, Binance will not acquire FTX

FlavienNovember 10, 2022

Less than a minute

As a result of corporate due diligence, Binance will not acquire FTX

Binance had signed a non-binding Letter of Intention for the acquisition of FTX on Tuesday, saying they would do a full Due Diligence in the following days. As a result of this corporate Due Diligence, along with various reports and rumors, Binance announced on Wednesday that they would not go through with the acquisition of the exchange. The news took the market even further down, with Bitcoin going as down as $15,588.

What will happen to FTX now?

Stay ahead of the game with our Crypto News.
Boost your knowledge about Crypto with our Crypto Encyclopedia.

Flavien

Greetings, I go by the name of Flavien - a devoted supporter of cryptocurrency and a tech aficionado who has been keeping track of the developments in the world of blockchain and digital currencies since 2019. The potential of decentralized digital currencies to revolutionize our financial systems has captivated me, and I'm constantly exploring the most recent trends and advancements in this ever-evolving industry. As a content creator for Krypto Channel, my aim is to deliver informative and engaging articles that shed light on all aspects of the crypto world. Whether you're a seasoned investor or simply curious about blockchain technology, I am here to keep you updated on the latest happenings and trends. Being part of this lively and dynamic community is an honor, and I am thrilled to share my passion for cryptocurrency and blockchain with all of you.