The Verge
Binance, the largest crypto exchange by volume, says it isn’t buying the beleaguered FTX crypto exchange, saying that “the issues are beyond our control or ability to help,” according to a company statement. The statement also said that “news reports regarding mishandled customer funds and alleged US agency investigations” also led them to back out of the deal, which was announced yesterday.
Binance’s change of heart was first reported by The Wall Street Journal. But even yesterday, the deal seemed uncertain, with CEO Changpeng “CZ” Zhao emphasizing that there was only a letter of intent in place. Binance would be conducting due diligence throughout the week before actually going through with a legally-binding purchase agreement, Zhao…
