Binance CEO has Agreed to Sign a Deal to Acquire Its Rival FTX and is the Biggest Acquisition

IndustryTrends

Changpeng "CZ" Zhao, Binance CEO, announced that the cryptocurrency giant has inked a contract to buy rival FTX.

The company had "come to an agreement on a strategic deal with Binance for FTX downfall," according to FTX CEO Sam Bankman-Fried.

Binance takes over as the leading exchange in the space by purchasing FTX, the cryptocurrency exchange with the second-highest trading volume.

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