The Binance cryptocurrency exchange has withdrawn from its non-binding letter of intent to acquire FTX.com.
The exchanges statements reads, “As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition of FTX.com,” said Binance, which was also tweeted.
It was reported by the New York Times that FTX is looking to raise $8 billion to bail it out and has experienced withdrawals of $6 billion since Sunday.
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