Sam Bankman-Fried, CEO of FTX, admitted that his company was facing liquidity problems and said that the exchange came “to an agreement on a strategic transaction with Binance “.
“This is a user-centric development that benefits the entire industry. CZ has done, and will continue to do, an amazing job in building the global crypto ecosystem and the creation of a freer economic world,” he tweeted.
FTX said it would not comment beyond his tweets for the foreseeable future. And Binance has not yet made an official statement on the matter.
For its part, FTT has a market cap of $3 billion compared to BNB’s $53 billion, according to data from CoinMarketCap. Both FTT and BNB are used as so-called trading tokens that provide users with discounts on their respective platforms.
Source: Ambito
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