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Bankman-Fried, 30, is the son a non-binding [letter of intent], their funds.

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Is Binance The Next FTX?
One of the world's largest cryptocurrency exchanges, FTX, has collapsed, with what is reported to be an $8bn (?bn) black hole on its. Binance has scrapped its letter of intent to buy rival crypto exchange FTX, according to a Binance spokesperson. "As a result of. This hypothesis holds that when a market leader, such as Binance, suffers regulatory concerns or poor press, it can cause a ripple effect.

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Binance Exchange is the leading global cryptocurrency exchange by trading volume, with users from over countries and regions. Binance's withdrawal of its offer capped a whirlwind day-and-a-half in which the world's largest crypto exchange by volume agreed to bail out its troubled rival in the face of a liquidity crunch that was caused, in part, by Binance saying it would sell off all its holdings of FTX's exchange token FTT. Dan Milmo Global technology editor. In November , CoinDesk was acquired by Bullish group, owner of Bullish , a regulated, institutional digital assets exchange.