Binance will decide on the purchase of the cryptocurrency exchange FTX after the evaluation of assets

Binance has signed a “non-binding letter of intent” with
Crypto exchange Binance said it has signed a “non-binding letter of intent” with crypto exchange In the document, Binance expressed its intention to acquire, but the final decision will be made only after an asset valuation. said that the possible purchase of the site has nothing to do with the platform, focused on working with U.S. citizens. stressed that “there have been rumors in the media about a difficult relationship between the two crypto exchanges,” but this is not true.
At the same time said that the difficulties with customer service on are temporary in nature and that all assets are secured at a ratio of 1:1, stressing that to restore full functionality is working “both teams”, including staff from Binance.
Once again it was stressed that and are “two unrelated companies, and currently are not affected in any way by the difficulties with Withdrawals from are running smoothly and are 100% covered by liquid reserves.
Meanwhile, analysts at Bloomberg believe that the current difficulties with and the drop in the price of the cryptocurrency’s token, FTT, could seriously affect on the wealth valuation of’s owner, Sam Bankman Fried, whose assets were valued at $26 billion at their peak, but now could potentially be less than $1 billion, a downward revaluation of 94%.
In the first half, the FTT token price is at $4.72, having lost 74.5% in 24 hours and falling 94.52% from its all-time high ($84.18), which was recorded on September 9 last year. At the same time, on September 6, also last year, there was an all-time low for FTT ($1.15), which means that even with the current drop, the token added 301.08% compared to its all-time low.
Recall that much of the history of trouble with began with the emergence of unverified information that allegedly, as of June 30 this year, the crypto exchange had insufficient liquid assets, with the reaction of itself was also more a declaration than providing any independently verified data about the organization’s balance sheet and income statement.
At the beginning of the whole situation on the part of, there was talk of the machinations of a “competitor”. It is also worth recalling that the difficulties between FTT and came days later, as Sam Bankman Fried stated about the crypto-exchange’s plans to launch its own Stablecoin.

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