As a joke: CZ announced not to buy back FTX, the second largest cryptocurrency exchange in the world, facing the risk of bankruptcy.

Tram Ho

Bloomberg, citing a source close to the matter, said it seems that within a few hours, Binance realized that rescuing FTX was difficult.

Như 1 trò đùa: CZ tuyên bố không mua lại FTX, sàn tiền số từng lớn thứ 2 TG đối mặt nguy cơ phá sản - Ảnh 1.

Changpeng “CZ” Zhao gave up his attempt to “rescue” FTX.com as quickly as he made the offer.

“We were hoping to be able to support FTX customers by providing liquidity, but the problems FTX encountered were beyond our control and capabilities,” the Binance founder said. in the notice.

Bloomberg, citing a source close to the matter, said it seems that within a few hours, Binance realized that rescuing FTX was difficult. Financial “black hole” – the difference between FTX’s debt and assets can be more than 6 billion USD.

In addition, U.S. regulators are investigating whether FTX made mistakes in managing customers’ funds, as well as its relationship with other companies in founder Sam’s crypto empire. Bankman-Fried, including the investment fund Almeda Research.

Zhao himself also admitted that there is no “super plan” to acquire FTX. This “turn of the wheel” makes the fate of the world’s second largest cryptocurrency exchange and its customers in a dark situation, further raising concerns about the risk scenario spreading to the whole world. branch. After Binance’s announcement, red covered the entire market, Bitcoin plummeted below $16,000 for the first time since 2020.

“After carefully reviewing the financial situation of the business, plus the latest news about FTX misuse of customer funds and allegations by regulators, we have decided to stop following pursue the acquisition of FTX.com,” reads the announcement by Binance.

For crypto investors, the upcoming developments will be crucial. The collapse of Bankman-Fried, the 30-year-old star of the cryptocurrency market, raises big questions about the certainty of businesses operating in the industry.

While Bankman-Fried is no longer a billionaire, Zhao is still the richest cryptocurrency billionaire in the world with a fortune of $16.4 billion according to Bloomberg statistics. However, even Zhao is not immune to plunges. At its peak, Zhao’s net worth amounted to $97 billion.

In a separate development, Sam Bankman-Fried has confessed to FTX.com investors that if it doesn’t get the cash injection, the company will have to file for bankruptcy. He said FTX is short of about 8 billion USD and needs 4 billion USD immediately to avoid bankruptcy. FTX is trying to find rescue funds in the form of debt, equity or a combination of the two.

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Source : Genk