The cryptocurrency market has been revolving around Binance and FTX lately. Most recently, Binance and FTX CEOs came to an agreement about Binance’s acquisition of FTX. However, they had made this deal in principle and Binance had the right of withdrawal. According to the latest report from The Wall Street Journal, Binance is probably giving up on the FTX deal. Meanwhile, some documents are circulating on Twitter that allegedly are the balance sheets of FTX and Alameda.
WSJ: Binance possibly pulling out of FTX deal
Binance appears to be on track to abandon its recently announced buyout deal with rival FTX, according to a report from the Wall Street Journal released Wednesday. cryptocoin.comAs you follow, Binance has made a deal in principle to buy the struggling FTX. Indeed, Binanace CEO Changpeng Zhao (CZ) also said that he signed a non-binding letter of intent (LOI) to fully acquire the trading platform.
However, after reviewing FTX’s balance sheet, Binance is now likely to withdraw from the deal. The WSJ also reported that the U.S. Securities and Exchange Commission (SEC) investigated FTX for months before it collapsed.
Do FTX and Alameda have these altcoins?
The market is currently focused entirely on events around Binance and FTX. The collapse of FTX seriously affected not only its own token, FTX Token (FTT), but the entire industry. In particular, altcoins that are somehow associated with FTX and Alameda Researche have suffered heavy losses. For example, one of these was Solana (SOL), which was on the balance sheet of Alameda Researche. The crisis has caused even a major altcoin project like Solana to lose over 55% in recent days.
That’s why crypto investors and traders keep a close eye on altcoin projects that are somehow related. Now, in a document circulating on Twitter, claims that around 30 altcoins are on the balance sheet of FTX and Alameda have come to the fore.
The cryptocurrency market continues to stay on the ropes in this process, which seems to be one of the most devastating crises for the industry. At press time, the Bitcoin price dropped below its two-year low of $16,000.
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