Binance and FTX logos are seen in this illustration photo taken on November 8, 2022. Photo: Reuters
Binance and FTX logos are seen in this illustration photo taken on November 8, 2022. Photo: Reuters

Binance plans to buy rival FTX in bailout as crypto market crumbles

  • The deal came as speculation about FTX’s financial health snowballed into US$6 billion of withdrawals in the 72 hours before Tuesday morning
  • US antitrust enforcers could insist on probing the merger, antitrust experts said

Binance and FTX logos are seen in this illustration photo taken on November 8, 2022. Photo: Reuters
Binance and FTX logos are seen in this illustration photo taken on November 8, 2022. Photo: Reuters
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