Binance is buying rival crypto exchange FTX

Binance has agreed to buy FTX, a once-stalwart rival suddenly facing a destabilizing stream of customer withdrawals, in the latest bout of turmoil to rock the industry this year.

Binance CEO Changpeng Zhao said that the deal came together rapidly to “protect users.” The deal, whose value was not revealed, stunned crypto watchers.

[Via]

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