FTX and Binance CEOs, who did not make a statement about the developments throughout the day, broke their silence with an important statement.
A critical statement came from Binance CEO CZ, shortly after FTX CEO announced that they had reached an agreement with Binance.
CZ said they have signed a non-binding agreement aimed at purchasing FTX entirely.
Binance CEO said that they have signed a non-binding agreement aimed at purchasing FTX entirely.
— Bitcoin System (@bitcoinsystem) November 8, 2022
“This afternoon, FTX asked us for help. There is a significant liquidity crunch.
To protect users, we signed a non-binding contract aimed at fully acquiring FTX and helping to ease the liquidity crunch.
There is a lot to agree on and it will take some time.
This is a very dynamic situation and we evaluate the situation in real time. Binance has discretion to withdraw from the deal at any time.
We expect FTT to be quite volatile in the coming days.”
After this news, Bitcoin rose to $ 20600.
After Binance announced that it would buy FTX, the FTT token, which lost 35% during the day, saw above $ 20.
US stock markets had a green start to the day, but rumors about the bankruptcy of FTX lowered the risk appetite in cryptocurrencies.
While the move from Binance shelved the rumors that FTX would go bankrupt, there was a sharp rise in cryptocurrencies, which remained unpremium compared to other risky products.
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