There is a hot news around the crypto space that ignited a lot of thoughts.
On Tuesday, World 's largest Crypto trading platform, Binance announced that it had reached an agreement to buy its competitor FTX
FTX was once valued at $32 billion and it is now currently struggling with financial issues and looking for a bail out
The size of the acquisition of FTX by the largest crypto trading platform, Binance, couldn’t immediately be determined
he emergency deal making highlighted the persistent instability of the crypto industry, which was buffeted this spring by a $2 trillion crash.
This acquisition will unite two of the largest crypto companies. Currently, Binance tops the list of the largest trading platform followed by the FTX
If the deal goes through. it will cement Changpeng Zhao’s status as one of the most powerful figures shaping the future of cryptocurrency.
However, many are skeptical about whether or not this will actually happen due to past failed deals between major crypto companies.