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Binance to buy troubled rival FTX

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FTX's billionaire chief Sam Bankman-Fried and his counterpart at Binance, Changpeng Zhao, both took to Twitter to confirm the non-binding agreement. "This afternoon, FTX asked for our help.

There is a significant liquidity crunch. To protect users, we signed a non-binding LOI, intending to fully acquire and help cover the liquidity crunch," writes Zhao.

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