Wednesday, March 05, 2025 | 09:56 PM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

How Binance, FTX deal rocked the Crypto world and later collapsed

On Tuesday, the world's biggest exchange, Binance Holdings Ltd., was set to acquire troubled rival FTX.com. On Wednesday, Binance walked away from the deal citing problems with FTX's finances

Binance, Crypto currency
Premium

Photo: Bloomberg

Joanna Ossinger | Bloomberg
It’s been a tumultuous few days in the largely unregulated cryptocurrency world, with mudslinging on Twitter, a shock exchange takeover bid — which then collapsed — and plunging token values.
 
On Tuesday, the world’s biggest exchange, Binance Holdings Ltd., was set to acquire troubled rival FTX.com. On Wednesday, Binance walked away from the deal citing problems with FTX’s finances as well as potential regulatory investigations. Its decision to walk away deepened the ongoing crypto rout, with Bitcoin tumbling to the lowest level in two years. 

While crypto might seem like a niche corner of finance, the saga between two of

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in