Zhao Changpeng, CEO of Binance, the largest cryptocurrency trading company in the world. announced today that the company has reached an agreement to acquire FTX, a cryptocurrency trading platform.
“FTX is experiencing severe liquidity problems. After FTX requested Binance’s assistance, the two companies signed a letter of intent with no obligation to acquire Binance. http://FTX.com and help increase liquidity for the company, “Zhao said on Twitter.
Additionally, Zhao stated that Binance will conduct a review of FTX activity in the coming days. and the Company has the right to terminate the Agreement at any time.
However, Zhao did not disclose the amount of money for this FTX acquisition.
FTX founder Sam Bankman-Fryd also tweeted a statement confirming the deal was reached.
