new York New bad news for crypto investors: The takeover of FTX.com by the market leader Binance failed late Wednesday evening, as Binance announced on Twitter. Binance checked the books of FTX and then refrained from a possible acquisition. Binance also referred to media reports that FTX is said to have embezzled customer funds. The crypto exchange run by Changpeng Zhao (known as CZ) is also concerned about being the focus of regulatory projects.
The recent reversal brought renewed price slumps in the crypto market. Bitcoin, the largest and oldest digital currency, fell below $16,000 – its lowest level in over two years. Ether, number two, lost over 14 percent in the evening to trade at $1110.
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