Bitcoin(BTC) hits the lowest price in two years as Binance cancels FTX acquisition
On Thursday morning, crypto prices dropped as Binance Global Inc., the largest crypto exchange in the world, backed out of a deal with struggling rival exchange FTX.com just 24 hours after it made the offer, leaving FTX in dire need of a buyer.
In a tweet posted to Binance’s Twitter account on Thursday, the company stated that as a result of due diligence, as well as the latest news reports regarding the mishandling of customer funds and alleged US agency investigations, We have decided not to pursue the possible acquisition of FTX.com. ”
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