FTX Agrees to Sell Itself to Rival Binance Amid Liquidity Scare at Crypto Exchange

The deal – which, like so much else during almost a week of drama, was revealed in tweets – unites two powerhouses of crypto trading. Early this year, FTX was valued at $32 billion, and Binance is the biggest crypto exchange by volume. Financial terms of the transaction were not disclosed, though FTX’s U.S. division – a separate entity known as FTX US – is not included in the deal.