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Binance to acquire FTX unit to help with “liquidity crunch” – CEO

(Reuters) – Binance Chief Executive Changpeng Zhao said on Tuesday the company had signed a non-binding agreement to buy rival FTX’s unit, FTX.com, to help cover a “liquidity crunch” at the cryptocurrency exchange.

VivaTech conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris

(Reuters) – Binance Chief Executive Changpeng Zhao said on Tuesday the company had signed a non-binding agreement to buy rival FTX’s unit, FTX.com, to help cover a “liquidity crunch” at the cryptocurrency exchange.

(Reporting by Niket Nishant in Bengaluru; Editing by Arun Koyyur)

By Reuters

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