[2022-11-09] Binance Walks Away From Deal to Buy FTX

examplens

legendary

Activity: 3472

Merit: 3507

Crypto Swap Exchange

Quote from: breaktime on November 09, 2022, 05:08:38 PM

https://www.wsj.com/articles/binance-is-said-to-be-likely-to-walk-away-from-deal-to-buy-ftx-11668020963

It seems binance was never serious to acquire FTX , it takes Binance few hours to perform DD , normally and it will take anywhere from 5 -9 weeks depending on the size and complexity of the business.

I take everything that comes from these two companies with a great deal of suspicion. I'm sure Binance didn't just decide to take over FTX with all the problems it brings, and then post it all on Twitter, before thinking it through. at the same time, they themselves contributed to the further decline of FTX.
why would they risk his own potential future investment?
Or, is this "giving up" just another trick to reduce the value and make it easier ^cheapest to take over?

cr1776

legendary

Activity: 4256

Merit: 1313

Quote from: breaktime on November 09, 2022, 05:08:38 PM

https://www.wsj.com/articles/binance-is-said-to-be-likely-to-walk-away-from-deal-to-buy-ftx-11668020963

It seems binance was never serious to acquire FTX , it takes Binance few hours to perform DD , normally and it will take anywhere from 5 -9 weeks depending on the size and complexity of the business.

It could be just that they were serious but the scope and size of the problems were so obvious that it became clear in just a few hours that it would be criminal insanity to rescue the scammers at FTX - from what I've seen they were using customer funds for their own uses. I don't know who was buying what FTX was selling for so long - to me, it just seemed like they were incompetent and dodgy from the start.

Like celsius, they just seemed like corrupt from the start.

crwth

copper member

Activity: 2940

Merit: 1280

https://linktr.ee/crwthopia

This is what it means when a giant like FTX loses a position in the crypto space. We are now experiencing so much decline in price that this is the fear of Sam bailing out the other competitors he has before. Now that he is the one who needs help. No one can certainly help him unless it is Binance. It's sad what is happening now in the crypto world.

breaktime

full member

Activity: 273

Merit: 101

https://www.wsj.com/articles/binance-is-said-to-be-likely-to-walk-away-from-deal-to-buy-ftx-11668020963

It seems binance was never serious to acquire FTX , it takes Binance few hours to perform DD , normally and it will take anywhere from 5 -9 weeks depending on the size and complexity of the business.

Topic: [2022-11-09] Binance Walks Away From Deal to Buy FTX (Read 67 times)