Binance CEO Changpeng Zhao said on Twitter that his company had signed a letter of intent to buy FTX because the smaller exchange was experiencing a "significant liquidity crunch." The deal was pending due diligence, Zhao said on Twitter.
The news shook the cryptocurrency world as the biggest crypto exchange had to apparently bail out the third largest exchange. Prices for major crypto assets plunged, with bitcoin prices falling more than 10% and ethereum dropping more than 15%.
Shares of publicly traded companies with heavy exposes to crypto fell sharply as well, with Coinbase and Robinhood seeing double-digit percentage declines.
Samuel Bankman-Fried, founder and CEO of FTX, also took to Twitter to say the deal with Binance would protect the exchange's customers. It's a surprising turn of events after Bankman-Fried was hailed as somewhat of a savior earlier this year when he helped shore up a number of cryptocurrency companies that ran into financial trouble.
هذه القصة مأخوذة من طبعة Techlife News #576 من Techlife News.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة Techlife News #576 من Techlife News.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
iPad mini - AI-READY DESIGN: THE A17 CHIP POWERHOUSE IN A COMPACT SIZE
Technology continues to shrink in size yet grow in capability, and the new iPad mini is no exception. The robust tool was designed to meet the demands of both personal and professional users.
16 Pro - AI-ORIENTED IMPROVEMENTS ON THE NEW IPHONE FLAGSHIP
At this year’s September Event, Glowtime, Apple unveiled new Apple Watches, AirPods, and iPhones.
iPhone 16 - THE STANDARD MODEL HAS NEVER BEEN THIS CLOSE TO PRO PERFORMANCE
The iPhone 16 and iPhone 16 Plus usher in a new era of tech powered by cutting-edge Apple Intelligence.
iPad Pro M4 - LOGIC PRO & FINAL CUT PRO: THE NEW HEIGHTS OF MOBILE COMPUTING
Apple wowed professionals with its all-new iPad Pro and iPad Air at its Let Loose event in May, but it is the accessories and software that will make the next generation of tablets stand out from the crowd and empower users to be more creative and productive than ever before.
Next Gen - iOS 18: PERSONALIZATION & INTELLIGENCE ACROSS MULTIPLE FEATURES & APPS
At this year’s WWDC, Apple introduced iOS 18, a significant update set to redefine the user experience on iPhone.
Robotics - AI TECHNOLOGY NOW TURNING SCI-FI INTO INDUSTRIAL REVOLUTION
The lines between science fiction and reality continue to blur, and new AI innovations bring the Machine Era closer to reality.
AirPods 4 - THE FAST EVOLUTION OF THE POPULAR WIRELESS EARPHONES
AirPods have transformed how we experience audio. With the introduction of the fourth generation, Apple is pushing the boundaries of innovation further, delivering immersive sound and connectivity.
Robot War - NEXT-GEN HUMANOID: OPTIMUS TESLA BOT VS ATLAS BOSTON DYNAMICS
Once a thing of science fiction, humanoid robots are now a reality, unlocking a new chapter in the world of technology and bringing to the fore a fascinating contest between two titans of the industry: Tesla, with its Optimus Tesla Bot, and Boston Dynamics, the creators of Atlas. It's a clash that could shape the future of robotics and how we live and work forever.
2024 THE DAWN OF THE APPLE INTELLIGENCE PRODUCTIVITY
2024 has been a groundbreaking year for Apple, with the tech giant continuing to deliver premium products catering to diverse users.
AUSTRALIA PLANS TO TAX DIGITAL PLATFORMS THAT DON'T PAY FOR NEWS
The Australian government said it will tax large digital platforms and search engines unless they agree to share revenue with Australian news media organizations.
