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Binance statement in full after not acquiring FTX

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by COINS NEWS 141 Views

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.

In the Beginning, Our Hope Was to Be Able to Support FTX's Customers to Provide Liquidity, but the Issues Are Beyond Our Control or Ability to Help. Every Time a Major Player in an Industry Fails, Retail Consumers Will

Suffer. We Have Seen Over the Last Several Years That the Crypto

Ecosystem Is Becoming More Resilient and We Believe in Time That

Outliers That Misuse User Funds Will Be Weeded Out by the Free

Market.

As Regulatory Frameworks Are Developed and as the Industry Continues to Evolve Toward Greater Decentralization, the Ecosystem Will Grow Stronger.

submitted by /u/Snowflake8050
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