The cryptocurrency market has been revolving around Binance and FTX lately. Most recently, Binance and FTX CEOs came to an agreement about Binance’s acquisition of FTX. However, they made this deal in principle and Binance had the right of withdrawal. According to the Wall Street Journal’s latest report, Binance is likely giving up on the FTX deal. In the middle, there are some papers circulating on Twitter that are claimed to be the balance sheet of FTX and Alameda.
WSJ: Binance possibly withdrawing from FTX deal
According to a Wall Street Journal report released Wednesday, Binance appears to be on track to abandon its recently announced buyout deal with rival FTX. Koindeks.com As you follow, Binance has made a settlement in principle to buy distressed FTX. Indeed, Binanace CEO Changpeng Zhao (CZ) also said that he signed a non-binding letter of intent (LOI) to purchase the trading platform as a whole.
However, after reviewing FTX’s balance sheet, it is now possible for Binance to withdraw from the contract. The WSJ also reported that the U.S. Securities and Exchange Committee (SEC) had been investigating FTX for months prior to its collapse.
Do FTX and Alameda have these altcoins?
The market is currently focused entirely on events around Binance and FTX. The collapse of FTX had a significant impact not only on its own token, the FTX Token (FTT), but the entire division. In particular, altcoins that are affiliated with FTX and Alameda Researche suffered heavy losses. For example, one of these was Solana (SOL), which is on the balance sheet of Alameda Researche. The crisis has caused even a major altcoin project like Solana to lose over 55% in value in recent days.
That’s why crypto investors and traders follow closely related altcoin projects. Now, in a document circulating on Twitter, the arguments that around 30 altcoins are on the balance sheet of FTX and Alameda have come to the fore.
The cryptocurrency market remains in the tightrope during what appears to be one of the most devastating crises for the branch. At press time, the Bitcoin price dropped below its two-year low of $16,000.