What Binance’s Axed FTX Buyout Means for the Cryptoverse
About this episode
The equivalent of an earthquake jolted the crypto world this week: Binance, the world’s largest cryptocurrency exchange, announced and then quickly reversed a proposal to buy out rival exchange FTX, which was reportedly facing a liquidity crisis and on the brink of collapse.
The companies are each owned by two of the most well known CEOs in crypto: Sam Bankman-Fried at FTX, who has been touted as crypto’s version of legendary banker J.P. Morgan, and Binance CEO Changpeng Zhao, known as “CZ.”
Meanwhile, Bloomberg reported that US authorities, including the Securities and Exchange Commission, are reviewing FTX for improper use of customer funds. Bloomberg’s senior crypto editor Philip Lagerkranser updates this moving story with fellow Bloomberg senior crypto editor Anna Irrera in this episode.
See omnystudio.com/listener for privacy information.
Get every episode summarized
Each time Bloomberg Crypto publishes, we email you a written briefing from the transcript — the topics, who appeared, and any specific claims, with the ad reads skipped.
Email me new episodesFree for 3 shows. No card needed.
No transcript yet
This episode has not been transcribed. Request it and it moves to the front of the queue.
More episodes
More from Bloomberg Crypto
Introducing: Bloomberg This Weekend
Bloomberg Crypto
Introducing - Spellcaster: The Fall of Sam Bankman-Fried
Bloomberg Crypto
Crypto Winter Meets Banking Crisis: A Tale of Three Banks
Bloomberg Crypto
Princeton University’s Blockchain Center, One Year On
Bloomberg Crypto