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.
Denne historien er fra Techlife News #576-utgaven av Techlife News.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra Techlife News #576-utgaven av Techlife News.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
AI Home
THE NEXT FRONTIER FOR APPLE INTELLIGENCE, INTERACTION, AND AUTOMATION
Watch
SERIES 10 & ULTRA 2: REFRESHING THE LINEUP WITH NEW FINISHES & BOLD COLORS
Mac mini
SMALL IN SIZE, POWERFUL, AND ENGINEERED FOR APPLE INTELLIGENCE
iMac M4 INTRODUCING THE FIRST APPLE DESKTOP READY FOR ADVANCED AI
Apple has taken another step towards revolutionizing the world of personal computing with the launch of its latest iMac.
MacBook Pro M4 UNMATCHED AI PERFORMANCE THROUGH A NEW STUNNING XDR DISPLAY
Apple has launched its latest lineup featuring the cutting-edge M4 chip family and the all-new Apple Intelligence system.
New-Gen iPads
2024 AIR AND PRO LINES BRING IDEAS TO LIFE LIKE NEVER BEFORE
Assistance A NEW PRODUCTIVITY ERA BEGINS FOR THE ENTIRE APPLE ECOSYSTEM
As Apple continues to lead in hardware-software integration, the debut of Apple Intelligence reinforces its commitment to offering an AI experience unique to its ecosystem, one that aligns with the company’s ethos of privacy and ease of use.
NVIDIA®
THE BREAKTHROUGHS BEHIND THE LATEST AI HARDWARE
2025 SCALING NEW HEIGHTS IN PROCESSING POWER
Over the past few years, Apple has reshaped nearly every part of its ecosystem, from the hardware to the software, to push the boundaries of technology.
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.
