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

[breaktime]

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.

[crwth]

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.

[cr1776]

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.

[examplens]

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?